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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

Date Activities Units Acquired at Cost Units Sold at Retail
March 1 Beginning inventory 70 units @ $50.40 per unit
March 5 Purchase 210 units @ $55.40 per unit
March 9 Sales 230 units @ $85.40 per unit
March 18 Purchase 70 units @ $60.40 per unit
March 25 Purchase 120 units @ $62.40 per unit
March 29 Sales 100 units @ $95.40 per unit
Totals 470 units 330 units

4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 50 units from beginning inventory, 180 units from the March 5 purchase, 30 units from the March 18 purchase, and 70 units from the March 25 purchase.

Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.

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