Date Transaction Number of Units Per Unit Total

The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31, are as follows:

Jan.1 Inventory 7,500 $75.00 $562,500

10 Purchase 22,500 85 1,912,500

28 Sale 11,250 150 1,687,500

30 Sale 3,750 150 562,500

Feb.5 Sale 1,500 150 225,000

10 Purchase 54,000 87.5 4,725,000

16 Sale 27,000 160 4,320,000

28 Sale 25,500 160 4,080,000

Mar.5 Purchase 45,000 89.5 4,027,500

14 Sale 30,000 160 4,800,000

25 Purchase 7,500 90 675,000

30 Sale 26,250 160 4,200,000

Determine the Following:

Sales

Cost of Merchandise

Gross Profit

Using a perpetual Inventory System record Transaction using: WEIGHTED AVERAGE

Sales Purchases Cost of Merchandise Sold Inventory

Qty Unit cost Total Qty Unit cost Total Qty Unit cost Total