! Required information Problem 6-2AA Periodic: Alternative cost flows LOP3 [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. Units Sold at Retail Units Acquired at Cost 120 units@ $55 per unit 420 units @ $60 per unit 440 units @ $90 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 160 units @ $65 per unit 240 units @ $67 per unit 200 units @ $100 per unit 640 units 940 units For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 400 units from the March 5 purchase; the March 29 sale consisted of 60 units from the March 18 purchase and 140 units from the March 25 purchase. Problem 6-2AA Part 3 c) Average Cost Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Average Goods # of units Available unit for Sale Average Average Cost per # of units sold Cost per Cost of Goods Sold # of units in ending inventory Cost per Ending Inventory Unit unit Beginning inventory Purchases: March 5 March 18 March 25 Total $ 0 0 d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory $ 0 $ 0 Beginning inventory Purchases: O March 5 O March 18 0 Oo March 25 0 Total 0 0 a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold Cost per # of units in ending inventory Ending Inventory unit unit $ 0 $ 0.00 $ 0 $ 0.00 $ 0 Beginning inventory Purchases: March 5 March 18 0 $ 0 $ 0.00 0 0.00 0.00 0 $ 0 $ 0.00 0 March 25 0 0 $ 0.00 0 Total 0 0 0 b) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per Cost per # of units Cost of Goods Available for Sale # of units sold Cost of Goods Sold # of units in ending inventory Cost per Ending Inventory unit unit unit $ 0 Beginning inventory Purchases: March 5 0 March 18 0 March 25 0 Total 0 0 Problem 6-2AA 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.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit 0 0 0