[The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory sys

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The Following Information Applies To The Questions Displayed Below Warnerwoods Company Uses A Perpetual Inventory Sys 1 (294.2 KiB) Viewed 9 times

[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 March 5 March 9 March 18 March 25 March 29 Gross Margin Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Sales Less: Cost of goods sold Gross profit FIFO LIFO Units Acquired at Cost @$52.40 per unit @$57.40 per unit 170 units 260 units 120 units @ $62.40 per unit 220 units @$64.40 per unit 770 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 10C units from beginning inventory, 230 units from the March 5 purchase, 80 units from the March 18 purchase, and 120 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Weighted Average < Prev p 7 Specific ID of 19 Next > Units Sold at Retail ww www 330 units@ $87.40 per unit 200 units@ $97.40 per unit 530 units