Question: Required information Problem 5-2AA Periodic: Alternative cost flows LO P3 The following information applies to the questions displayed below) Warnerwoods Company uses a periodic inventory
Required information Problem 5-2AA Periodic: Alternative cost flows LO P3 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 Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Aequired at Cont 185 unitse $75 per unit 485 units $80 per unit 290 units $85 per unit 370 unitse $87 per unit Units sold at Batan 505 units. 5110 per unit 1,330 units 330 units $120 per unit 835 units For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 465 units from the March 5 purchase, the March 29 sale consisted of 125 units from the March 18 purchase and 205 units from the March 25 purchase. Problem 5-2AA 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.) piro LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Oross profit $ 0 5 0 $ 0
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