The beginning inventory at Midnight Supplies and data on purchases and sales for a three month period ending March 31 are as follows Date Number of Units Per Unit Jan 7,500 $ 75,00 1 10 28 30 5 10 85.00 Transaction Inventory Purchase Sale Sale Sale Total $ 562,500 1,912,500 1,687,500 Feb 562,500 Purchase 16 Sale 22,500 11,250 3,750 1,500 54,000 27,000 25,500 45,000 30,000 7,500 26,250 28 Sale 150.00 150,00 150.00 87.50 160.00 160.00 89.50 160.00 90.00 160.00 5 Purchase 225.000 4,725,000 4,320,000 4,080,000 4,027,500 4,800,000 675,000 4,200,000 Sale 14 25 Purchase 30 Sale Instructions 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3 using the first-in, first-out method ord the mentor purchases and out of good old dat in perpetua t e onerated in the fourthod Under FFO,Fun w a r i c h w LOW Coat of Good Cost of goods Sold 305.00 51,512,500 385 DOS 16500 ES563880