Question: required information the following information applies to the questions displayed...
[The following information applies to the questions
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||70||units||@ $50.40 per unit|
|Mar.||5||Purchase||210||units||@ $55.40 per unit|
|Mar.||9||Sales||230||units||@ $85.40 per unit|
|Mar.||18||Purchase||70||units||@ $60.40 per unit|
|Mar.||25||Purchase||120||units||@ $62.40 per unit|
|Mar.||29||Sales||100||units||@ $95.40 per unit|
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 180 units from the March 5 purchase; the March 29 sale consisted of 30 units from the March 18 purchase and 70 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)