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

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
\table[[Date,Activities,Units,Acquired at cost,Units,Sold at Retail],[March 1,Beginning inventory,100 units,@ $50 per unit,,],[March 5,Purchase,400 units,@ $55 per unit,,],[March 9,Sales,,,420 units,@ $85 per unit],[March 18,Purchase,120 units,@ $60 per unit,,],[March 25,Purchase,200 units,@ $62 per unit,,],[March 29,Sales,,,160 units,@ $95 per unit],[,Totals,820 units,,580 units,]]
Problem 5-1A (Static) Part 4
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase.
Note: Round weighted average cost per unit to 2 decimal places.
\table[[Gross Margin,FIFO,LIFO,Weighted Average,Specific ID],[Sales,,,,],[Less: Cost of goods sold,,,,],[Gross profit,,,,]]
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