Required Information. 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: March 1 Activities Beginning inventory Purchase Sales March 5 March 9 March 18 Purchase March 25 Purchase March 29 Sales Totals Units Acquired at Cost 100 units $50 per unit 400 units Units Sold at Retail 0 $55 per unit 420 units 0 $85 per unit 120 units 200 units @ $60 per unit 0 $62 per unit 820 units 160 units @ $95 per unit 580 units Problem 5-1A (Static) Part 4 4. Compute gross pront 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 Cross profis FIFO LIFO Weighted Average Specific ID 50,900 $ 50,900 $ 50,900 $ 50,900