Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 80 units @ $50.60 per unit 215 units @ $55.60 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales 240 units @ $85.60 per unit 75 units 130 units @ $60.60 per unit @ $62.60 per unit 110 units@ $95.60 per unit 350 units Totals 500 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 55 units from beginning inventory, 185 units from the March 5 purchase, 35 units from the March 18 purchase, and 75 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) X Answer is complete but not entirely correct. Gross Margin FIFO LIFO Specific ID Weighted Average $ 31,060 $ 31,060 $ 31,060 $ 31,060 Sales Less: Cost of goods sold Gross profit 19,355 X 20,105 20,080 X 19,885 $ 11,725 $ 10,955 $ 10,981 X $ 11,175