Exercise Planet began January with merchandise inventory of 70 crates of vitamins that cost a total of $4,550. During the month, Exercise Planet purchased and sold merchandise on account as follows: (Click the icon to view the transactions.) Read the requirements. Toorom Requirement 3. Prepare a perpetual inventory record, using the weighted average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Begin by computing the cost of goods sold and cost of ending merchandise inventory using the weighted average inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Jan. 1 51 x Data Table 131 181 26 Jan. 5 Purchase 130 crates @ $76 each Totals Jan. 13 Sale Jan. 18 Purchase 140 crates @ $96 each 150 crates @ $83 each 160 crates @ $100 each Determine the company's gross profit using the weighted average inventory costing method. Jan. 26 Sale Enter any number in the edit fields and then continue to the next question. Print Done