Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 105 units @ $40.00 per unit Mar. 5 Purchase 405 units @ $45.00 per unit Mar. 9 Sales 425 units @ $75.00 per unit Mar. 18 Purchase 130 units @ $50.00 per unit Mar. 25 Purchase 210 units @ $52.00 per unit Mar. 29 Sales 170 units @ $85.00 per unit Totals 850 units 595 units For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 355 units from the March 5 purchase; the March 29 sale consisted of 45 units from the March 18 purchase and 125 units from the March 25 purchase.

Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round your average cost per unit to 2 decimal places.)

a) Periodic FIFO	Cost of Goods Available for Sale			Cost of Goods Sold			Ending Inventory
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Beginning inventory	105	$40.00	$4,200	425	$40.00	$17,000	85	$40.00	$3,400
Purchases:
March 5	405	$45.00	18,225		45.00	0		45.00	0
March 18	130	$50.00	6,500		50.00	0		50.00	0
March 25	210	$52.00	10,920		52.00	0		52.00	0
Total	850		$39,845	425		$17,000	85		$3,400
b) Periodic LIFO	Cost of Goods Available for Sale			Cost of Goods Sold			Ending Inventory
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Beginning inventory	105	$40.00	$4,200		$40.00	$0		$40.00	$0
Purchases:
March 5	405	45.00	18,225		45.00	$0		45.00	0
March 18	130	50.00	6,500		50.00	$0		50.00	0
March 25	210	52.00	10,920		52.00	$0		52.00	0
Total	850		$39,845	0			0
c) Average Cost	Cost of Goods Available for Sale			Cost of Goods Sold			Ending Inventory
	# of units	Average Cost per unit	Cost of Goods Available for Sale	# of units sold	Average Cost per Unit	Cost of Goods Sold	# of units in ending inventory	Average Cost per unit	Ending Inventory
Beginning inventory	105		$4,200
Purchases:
March 5	405		18,225
March 18	130		6,500
March 25	210		10,920
Total	850		$39,845	595		$0	255		$0
d) Specific Identification	Cost of Goods Available for Sale			Cost of Goods Sold			Ending Inventory
	# of units	Cost per unit	Cost of Goods Available for Sale	# of units sold	Cost per unit	Cost of Goods Sold	# of units in ending inventory	Cost per unit	Ending Inventory
Beginning inventory	105	$40.00	$4,200		$40.00	$0		$40.00	$0
Purchases:
March 5	405	45.00	18,225		45.00	0		45.00	0
March 18	130	50.00	6,500		50.00	0		50.00	0
March 25	210	52.00	10,920		52.00	0		52.00	0
Total	850		$39,845	0			0

2 decimal places required.

Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.)

	FIFO	LIFO	Weighted Average	Specific Identification
Sales
Less: Cost of goods sold
Gross profit	$0	$0	$0	$0