gagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator as eBook Show Me How Calculator LIFO Perpetual Inventory The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31, are as follows Number Date Transaction Per UnitTotal of Units 7,500 $75.00 $562,500 22,50085.00 1,912,500 11,250150.00 1,687,500 3,750 150.00562,500 1,500 150.00225,000 54,000 87.50 4,725,000 27,000 160.004,320,000 25,500160.004,080,000 45,000 89.504,027,500 30,000 160.00 4,800,000 675,000 26,250160.004,200,000 Jan. 1 Inventory 10 Purchase 28 Sale 30 Sale Feb. 5 Sale 10 Purchase 16 Sale 28 Sale Mar. 5 Purchase 14 Sale 25 Purchase 30 Sale 7,500 90.00 Required: Previous Check My Work 25 Purchase 7,50090.00 675,000 30 Sale 26,250 160.00 4,200,000 Required: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one lMlustrated in Exhibit 4, using the last-in, first-out method. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Round unit cost to two decimal places, if necessary unit cost first in the Cost of Merchandise Midnight Supplies Schedule of Cost of Merchandise Sold LIFO Method For the three-months ended March 31 Purchases Cost of Merchandise Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost an. 1 an. 10 an. 28 Next Check My Work PM up Mar. 30 Mar. 31 Balances 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. Total sales Total cost of merchandise sold Gross profit 3. Determine the ending inventory cost as of March 31. Check My Work uctor Save a All work saved