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.) FIFOLIFOWeighted AverageSpecific IdentificationSales Less: Cost of Goods Sold Gross Profit Side Note: Image 2 highlighted with pink (Table (c) Average Cost) is the only numbers/entries that are wrong and needs to be corrected. Warnerwoods Company uses a periodic 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 | 105 units @ $40 per unit | || Mar. 5 | Purchase | 405 units @ $45 per unit | || Mar. 9 | Sales | | 425 units @ $75 per unit || Mar. 18 | Purchase | 130 units @ $50 per unit | || Mar. 25 | Purchase | 210 units @ $52 per unit | || Mar. 29 | Sales | | 170 units @ $85 per unit || **Totals** | | **850 units** | **595 units** |For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 355 units from the March 5 purchase; the March 29 sale consisted of 45 units from the March 18 purchase and 125 units from the March 25 purchase. The image presents a detailed comparison of inventory costing methods using a periodic inventory system. It includes four sections showing calculations under different methods: FIFO, LIFO, Average Cost, and Specific Identification. Each section is divided into three main columns: Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory. Here's a transcription of each segment:### a) Periodic FIFO**Cost of Goods Available for Sale**- Beginning Inventory: 105 units at $40.00, total $4,200.- Purchases: - March 5: 405 units at $45.00, total $18,225. - March 18: 130 units at $50.00, total $6,500. - March 25: 210 units at $52.00, total $10,920.- Total: 850 units, $39,845.**Cost of Goods Sold**- Sold 595 units, total cost $26,675.**Ending Inventory**- 255 units remaining, total $13,170.### b) Periodic LIFO**Cost of Goods Available for Sale**- Details same as FIFO.**Cost of Goods Sold**- Sold 595 units, total cost $28,895.**Ending Inventory**- 255 units remaining, total $10,950.### c) Average Cost**Cost of Goods Available for Sale**- Average cost per unit: $46.88, total $39,845.**Cost of Goods Sold**- Sold 595 units at average cost $46.29, total cost $27,526.**Ending Inventory**- 255 units remaining, total $12,319.### d) Specific Identification**Cost of Goods Available for Sale**- Details same as FIFO.**Cost of Goods Sold**- Sold 595 units, total cost $27,525.**Ending Inventory**- 255 units remaining, total $12,320.The document visually distinguishes calculations for each system with varying unit costs and sequences of items sold, highlighting how each method affects the cost of goods sold and ending inventory values.

(A) Periodic FIFO Cost of Goods Available for sale Cost of Goods Sold Ending Inventory…

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 Side Note: Image 2 highlighted with pink (Table (c) Average Cost) is the only numbers/entries that are wrong and needs to be corrected.