Warnerwoods Company uses a perpetual inventory system. It entered into the follo

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Warnerwoods Company uses a perpetual inventory system. It entered into the follo

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
DateActivitiesUnits Acquired at CostUnits Sold at Retail
March 1Beginning inventory220units@ $53.40 per unit
March 5Purchase285units@ $58.40 per unit
March 9Sales 380units@ $88.40 per unit
March 18Purchase145units@ $63.40 per unit
March 25Purchase270units@ $65.40 per unit
March 29Sales 250units@ $98.40 per unit
Totals920units 630units
Problem 5-1A (Algo) Part 4
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 125 units from beginning inventory, 255 units from the March 5 purchase, 105 units from the March 18 purchase, and 145 units from the March 25 purchase.
Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.

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