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 $ $ 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 135 units from beginning inventory, 265 units from the March 5 purchase, 115 units from the March 18 purchase, and 155 units from the March 25 purchase. Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar. FIFO 62,196 $ 38,871 23,325 $ Units Acquired at Cost 240 units @ $53.80 per unit 295 units@ $58.80 per unit LIFO 155 units@ $63.80 per unit 290 units @ $65.80 per unit 980 units Weighted Average 62,196 $ 40,761 21,436 S Specific ID 62.196 $ 40,659 21,537 Units Sold at Retail 400 units @ $88.80 per unit 62,196 270 units @ $98.80 per unit 670 units

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In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.