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Problem 5-1A (Static) Perpetual: Alternative cost flows LO P1 (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 required at Cont Unita Sold at Retail March 1 Beginning inventory 100 units $50 per unit March 5 Purchase 400 units $55 per unit March 9 Salen 420 unito $85 per unit March 18 Purchase 120 units $60 per unit March 25 Purchase 200 units e $62 per unit March 29 Sales 160 units $95 per unit Totals 820 units 580 units Problem 5-1A (Static) Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units froin the Morch 18 purchase, and 120 units from the March 25 purchase. (Round weighted average cost per unit to 2 decimal places.) FIFO LIFO Gross Margin Weighted Average Specific ID Sales Less: Cost of goods sold Gross profit