Date Transaction of Units For Unit Total 10 Pur 339,400 547208241610 Purchases Schle of Cast of 4,043,300 Inventory 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 7,600 $71.00 $539,600 10 Purchase 22,800 81.00 1,846,800 28 Sale 11,400 142.00 1,618,800 30 Sale 3,800 142.00 539,600 Feb. 5 Sale 1,520 142.00 215,840 10 Purchase 54,720 83.50 4,569,120 16 Sale 27,360 152.00 4,158,720 28 Sale 25,840 152.00 3,927,680 Mar. 5 Purchase 45,600 85.50 3,898,800 14 Sale 30,400 152.00 4,620,800 25 Purchase 7,600 86.00 653,600 30 Sale 26,600 152.00 4,043,200 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 nee Midnight Supplies Schedule of Cost of Goods Sold Weighted Average Cost Method For the Three Months Ended March 31 Total Cost Quantity Inventory Unit Cost Total Cost 7,600 71 539,600 30,400 Purchases Cost of Goods Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Jan. 11 Jan 10 22,800 1,846,000 Jan. 28 11,400 142 X 1,618,800 Jan. 301 3,800 142 X 539,600 x Feb. 5 1,520 142 X 215,840 X Feb. 101 54,720 4,569,120 Feb. 16:1 27,360 152 X 4,620,800 Feb. 28 25,840 152 X 3,927,680 x Mar 5 45,600 3,895,000 Mar. 14 30,400 152 x 4,620,800 Mar. 251 Mar. 301 7,600 653,600 26,600 152 X 4,043,200 X Mar 311 Balances 19,586,720 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 Gross profit 3. Determine the ending inventory cost as of March 31