Required information Problem 6-1A (Algo) 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 Units Acquired at Cost 100 units $51.00 per unit 225 units @ $56.00 per unit Units Sold at Retail March 5 March 9 Sales 260 units @ $86.00 per unit March 18 Purchase March 25 Purchase 85 units 150 units $61.00 per unit $63.00 per unit March 29 Sales Totals 560 units 130 units @$96.00 per unit 390 units Problem 6-1A (Algo) Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 65 units from beginning inventory, 195 units from the March 5 purchase, 45 units from the March 18 purchase, and 85 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Gross Margin Sales Less: Cost of goods sold Gross profit FIFO LIFO Weighted Average Specific ID