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[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 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
Totals 470 units 330 units

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.)

Gross Margin FIFO LIFO Avg. Cost Spec. ID Sales Less: Cost of goods sold Gross profit $ 29,182$ 29,182$ 29,182$29,182 18,182.

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