Question: First photo us data I only need the 2 blank spaces answered on the second photo :) ! Required information The following information applies to

! 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 Units sold at Retail Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 118 units @ $51.2e per unit 238 units@ $56.20 per unit 98 units @ $61.20 per unit 160 units @ $63.20 per unit 270 units $86.20 per unit 140 units $96.20 per unit 410 units 590 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 70 units from beginning inventory and 200 units from the March 5 purchase, the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) $ Gross Margin Sales Less: Cost of goods sold Gross profit FIFO 36,742 $ 22,842 13,000 $ LIFO Avg. Cost Spec. ID 36,742 S 36,742 $ 38,742 23,822 23,243 23,572 12.920 $
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
