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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 110 units @ $51.20 per unit
March 5 Purchase 230 units @ $56.20 per unit
March 9 Sales 270 units @ $86.20 per unit
March 18 Purchase 90 units @ $61.20 per unit
March 25 Purchase 160 units @ $63.20 per unit
March 29 Sales 140 units @ $96.20 per unit
Totals 590 units 410 units
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 70 units from beginning inventory, 200 units from the March 5 purchase, 50 units from the March 18 purchase, and 90 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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Specific ID method Cost of goods sold 70 units 5120 3584 200 units 5620 11240 50 units 6120 ... blur-text-image

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