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

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Question

Accounting

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.
Date
March 1
March 5
March 9
March 18
March 25
March 29
Activities
Beginning
Purchase
Sales
Purchase
Purchase
Sales
Totals
Units Acquired at cost
60 units @ $50.20 per unit
205 units @ $55.20 per unit
Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 45
units from beginning inventory, 175 units from the March 5 purchase, 25 units from the March 18 purchase, and 65 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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