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! Required Information [The following information applies to the questions displayed below.] Warnerwoods...

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Accounting

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Required Information
[The following information applies to the questions displayed below.]
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,,tail],[March 1,Beginning inventory,100 units,(e $50 per,unit,420 units,e $85,per,unit],[March 5,Purchase,400 units,(2 $55 per,unit],[March 9,Sales,,,],[March 18,Purchase,120 units,e $60 per,unit],[March 25,Purchase,200 units,@ $62 per,unit,,e $95,per,unit],[March 29,Sales,,,,160 units],[Totals,820 units,,,580 units]]
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 welghted average cost per unlt 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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