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Part 2:

! 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 Units Acquired at Cost 80 units @ $50.60 per unit 215 units@ $55.60 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 240 units @ $85.60 per unit 75 units @ $60.60 per unit 130 units @ $62.60 per unit 110 units @ $95.60 per unit 350 units 500 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale # of units Cost of Goods Available Unit for Sale Cost per Beginning inventory Purchases: March 5 March 18 March 25 Total 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 Units Acquired at Cost 80 units @ $50.60 per unit 215 units @ $55.60 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 240 units @ $85.60 per unit 75 units @ $60.60 per unit 130 units @ $62.60 per unit 110 units @ $95.60 per unit 350 units 500 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 55 units from beginning inventory and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) FIFO LIFO Avg. Cost Spec. ID Gross Margin Sales Less: Cost of goods sold Gross profit