4. Cross profit. $5,893,125 Obj. 2,3 PR 6-3A Weighted average cost method with perpetual inventory The beginning inventory for Midnicht Supplies and data on purchases and sales for a three month period are shown in Problem 6-1A. Instructions 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the weighted average cost method. 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. 3. Determine the ending inventory cost as of March 31. oblems: Series A Problems PR 6-1A FIFO perpetual inventory Obj. 2,3 The beginning inventory at Midnight Supplies and data on purchases and sales for a three month period ending March 31 are as follows: The 3. $8.983,125 EL TEMPLATE $ Date Jan. 1 10 28 30 Feb. 5 10 16 28 Mar. 5 14 25 30 Transaction Inventory Purchase Sale Sale Sale Purchase Sale Sale Purchase Sale Purchase Sale Number of Units 7,500 22,500 11,250 3,750 1,500 54,000 27,000 25,500 45,000 Per Unit $ 75.00 85.00 150.00 150.00 150.00 87.50 160.00 160.00 89.50 160.00 90.00 160.00 Total 562,500 1,912,500 1.687,500 562,500 225,000 4,725,000 4,320,000 4,080,000 4,027,500 4,800,000 675,000 4,200,000 30,000 7,500 26,250 (Continued)