Required information Problem 5-1A (Static) Periodic: Alternative cost flows LO P1 [The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic Inventory system. It entered into the following purchases and sales transactions for March Date Activities Units Acquired at Cont Unita Sold at Retail Mar. 1 Beginning inventory 100 units $50 per unit Mar. 5 Purchase 400 units + $55 per unit Mar. 9 Sales 420 units $85 per unit Mar. 18 Purchase 120 units + $60 per unit Mar. 25 Purchase 200 unitse $62 per unit Mar. 29 Sales 160 units 595 per unit Totals 820 units 580 units For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Problem 5-1A (Static) Part 4 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.) FIFO LIFO Weighted Specific Average Identification 50,900.00 $ 50,900.00 $ 50,900.00 $ Sales Less: Cost of goods sold Gross profit 50,900.00 s (31,800.00) 19,100.00 $ 50,900.00 50,900.00 $ $ 50,900.00 $