Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system....

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[The following information applies to the questionsdisplayed below.]

Warnerwoods Company uses a perpetual inventory system. It enteredinto the following purchases and sales transactions forMarch.
Date Activities Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 160 units @ $52.20 per unit
Mar. 5 Purchase 255 units @ $57.20 per unit
Mar. 9 Sales 320 units @ $87.20 per unit
Mar. 18 Purchase 115 units @ $62.20 per unit
Mar. 25 Purchase 210 units @ $64.20 per unit
Mar. 29 Sales 190 units @ $97.20 per unit
Totals 740 units 510 units
4. Compute gross profit earned by the companyfor each of the four costing methods. For specific identification,the March 9 sale consisted of 95 units from beginning inventory and225 units from the March 5 purchase; the March 29 sale consisted of75 units from the March 18 purchase and 115 units from the March 25purchase. (Round weighted average cost per unit to twodecimals and final answers to nearest whole dollar.)

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Calculation of Gross Profit Earned by the Company using FIFO perpetual inventory system Sales 320 Units x 8720 27904 190 Units x 9720 18468 Total Sales 46372 Less Cost of goods sold 160 Units x 5220 8352 160 Units x 5720 9152 95 Units x 5720 5434 95 Units x 6720 6384 Total Cost of Goods See Answer

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Required information[The following information applies to the questionsdisplayed below.]Warnerwoods Company uses a perpetual inventory system. It enteredinto the following purchases and sales transactions forMarch.DateActivitiesUnits Acquired at CostUnits Sold at RetailMar.1Beginning inventory160units@ $52.20 per unitMar.5Purchase255units@ $57.20 per unitMar.9Sales320units@ $87.20 per unitMar.18Purchase115units@ $62.20 per unitMar.25Purchase210units@ $64.20 per unitMar.29Sales190units@ $97.20 per unitTotals740units510units4. Compute gross profit earned by the companyfor each of the four costing methods. For specific identification,the March 9 sale consisted of 95 units from beginning inventory and225 units from the March 5 purchase; the March 29 sale consisted of75 units from the March 18 purchase and 115 units from the March 25purchase. (Round weighted average cost per unit to twodecimals and final answers to nearest whole dollar.)