Question

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 210 units @ $53.20 per unit Mar. 5 Purchase 280 units @ $58.20 per unit Mar. 9 Sales 370 units @ $88.20 per unit Mar. 18 Purchase 140 units @ $63.20 per unit Mar. 25 Purchase 260 units @ $65.20 per unit Mar. 29 Sales 240 units @ $98.20 per unit Totals 890 units 610 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 120 units from beginning inventory and 250 units from the March 5 purchase; the March 29 sale consisted of 100 units from the March 18 purchase and 140 units fr

I am sorry. I thought I posted everything. My requirement is below.

Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 120 units from beginning inventory and 250 units from the March 5 purchase; the March 29 sale consisted of 100 units from the March 18 purchase and 140 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)

Gross Margin	FIFO	LIFO	Avg. Cost	Spec. ID
Sales
Less: Cost of goods sold
Gross profit

Answer 1

		Amount	Per unit	Units
01-Mar	Beginning inventory	11172	53.2	210
05-Mar	Purchases	16296	58.2	280
18-Mar	Purchases	8848	63.2	140
25-Mar	Purchases	16952	65.2	260
	Cost of goods available for sale	53268		890
	Average cost	59.85	Less units sold	610
			Ending inventory	280
	Ending inventory
	Average cost	16758	(59.85*280)
	FIFO	Units	Per unit	Total
	25 mar purchases	260	65.2	16952
	18 mar purchases	20	63.2	1264
	Total	280		18216
	LIFO
	1 mar purchases	120	53.2	6384
	18 mar purchases	140	63.2	8848
	25 mar purchases	20	65.2	1304
	Total	280		16536
	Specific identification
	1 mar purchases	90	53.2	4788
	5 mar purchases	30	58.2	1746
	18 mar purchases	40	63.2	2528
	25 mar purchases	120	65.2	7824
	Total	280		16886
		Average	FIFO	LIFO	Specific
	Cost of goods available for sale	53268	53268	53268	53268
Less	Ending inventory	16758	18216	16536	16886
	Cost of goods sold	36510	35052	36732	36382
		Average	FIFO	LIFO	Specific
	Sales	56202	56202	56202	56202
Less	Cost of goods sold	36510	35052	36732	36382
	Gross profit	19692	21150	19470	19820