Saved Help Save & Exit Submit Check my work Required information Problem 5-2AA (Static) Perpetual: Alternative cost flows LO P3 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 activities Units Acquired at Coat Units sold at Heta Mar. 1 Beginning inventory 100 units e$50 per unit Mar. 5 Purchase 400 units $55 per unit Mar. 9 Sales 420 units ses per unit Mar. 18 Purchase 120 unitse $60 per unit 200 units 562 per unit Mar. 29 Sales 160 units $95 per unit Totals 820 unito 580 unita MAT, 25 Purchase Problem 5-2AA (Static) Part 4 4. Compute gross profit earned by the company for each of the four costing methods. 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. (Round weighted average cost per unit to 2 decimal places.) LIFO 50,000 $ Avg. Cost 50,900 $ $ Gro Margin Sales Less: Cost of goods sold Gross profit FIFO 50,000 $ 31,800 19,100 Spec.ID 50,900 32.540 18.350 $ $