The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31 are as follows. 1. Record the inventory, purchases; and cost of goods sold dats in a perpetual imventory recond similar to the one inustroted in using the firstin. first out method 2 Determine the total sales and the cotal cost of poods sold for the period Joumalize summary entries for the sales and corresponding cost or goodsisold for the period Assume that all sales were or sccount and dste your journal entry March 31 3 Defermine the pross profit from sales forthe pariod 4. Determine the ending nuentory cost as or March 31