Problem 5-1A (Static) Perpetual: Alternative cost flows LO P [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: March 1 Units Acquired at Cost Activities Beginning inventory. Units Sold at Retail 100 units March 5 March 9 March 18 March 25 Purchase March 29 Sales Purchase Sales Purchase 400 units $50 per unit e $55 per unit 420 units $85 per unit 120 units 200 units $60 per unit $62 per unit Totals 820 units: 160 units 580 units e $95 per unit 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 from the March 18 purchase, and 120 units from the March 25 purchase. (Round weighted average cost per unit to 2 decimal places.) Gross Margin Sales Less: Cost of goods sold Gross profit FIFO LIFO Weighted Average Specific ID