9:47 PM Mon Jun 10 12% Done AA v2.cengagenow.com C Assignment 8.1: Chapter 6 Homework eBook Weighted Average Cost Method With Perpetual Inventory The beginning inventory for Midnight Supplies and data on purchases and sales for a three-month period are as follows: Number Date Transaction of Units Per Unit Total Jan. 1 Inventory 7,500 $75.00 $562,500 10 Purchase 22,500 85.00 1,912,500 28 Sale 11,250 150.00 1,687,500 30 Sale 3,750 150.00 562,500 Feb. 5 Sale 1,500 150.00 225,000 10 Purchase 54,000 87.50 4,725,000 16 Sale 27,000 160.00 4,320,000 28 Sale 25,500 160.00 4,080,000 Mar. 5 Purchase 45,000 89.50 4,027,500 14 Sale 30,000 160.00 4,800,000 25 Purchase 7,500 90.00 675,000 30 Sale 26,250 160.00 4,200,000 Required: 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. Round unit cost to two decimal places, if necessary. Round all total cost amounts to the nearest dollar. Midnight Supplies Schedule of Cost of Goods Sold Weighted Average Cost Method Check My Work Previous Next Assignment Score: 88.09% All work saved. mail Instructor Save and Exit Submit Assignment for GradingT @ 12% 0 9:47PM Mon Jun 10 o0 @ v2.cengagenow.com Assignment 8.1: Chapter 6 Homework - | ] Se ] S | ____ | 22,500 I Feb. 10 54, 000 4,725, 000 Feb. 28 Mar. 5 45 000 4 027,500 Mar. 14 | H H = === I 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. Total sales $ Total cost of goods sold $:] o ] 3. Determine the ending inventory cost as of March 31.