Penodic inventory by three methods The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31 are as follows: 1. Determine the inventory on March 31 and the cost of goods wold for the three-month period, using the first-in, frit-out method and the penodic iliventory systemb Inventory, March 31: Cost of goods sold s 1. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system. Inventory, March 311 Cost of goods solds 2. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system. Inventory, March 31 : Cost of goods sold 5 3. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the weighted average cost method and the periodic inventory system. Round the weighted average unit cost to the nearest cent. Inventory, March 311 Cost of goods solds 4. Compare the gross proft and the March 31 inventories, using the foliowing column headings. For those boxes in which you must enter swotracted or negative numbers use a minus signi