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I need help with computing the gross profit Warnerwoods Company uses...

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Accounting

I need help with computing the gross profit

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
Mar. 1 Beginning inventory 110 units @ $51.20 per unit
Mar. 5 Purchase 230 units @ $56.20 per unit
Mar. 9 Sales 270 units @ $86.20 per unit
Mar. 18 Purchase 90 units @ $61.20 per unit
Mar. 25 Purchase 160 units @ $63.20 per unit
Mar. 29 Sales 140 units @ $96.20 per unit
Totals 590 units 410 units

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value 12.50 points Problem 5-1A Part 4 Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 200 units from the March 5 purchase, the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. (Round weighted average cost per unit to two decimals.) 4. Weighted AverageIdentification Specific FIFO LIFO Sales Less: Cost of goods sold Gross profit

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