The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31 are as follows Unit Total Jan. 1 Inventory 7,500 $75.00 $562,500 10 Purchase 22,500 85.00 1,912,500 11,250 150.00 1,687,500 3,750 150.00 562,500 1,500 150.00 225,000 87.504,725,000 27,000 160.004,320,000 25,500 160.004,080,00o 45,000 89.50 4,027,500 30,000160.004,800,000 7,500 90.00675,000 26,250160.00 4,200,000 30 Sale to Purchase 4,000 8750 2725,000 16 Sale 28 Sale Mar. 5 Purchase 14 Sale 30 Sale 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one iustrated in Exhibit 4, using the last-in, first-out method. under uno a unas are in mentory at tw diferent costs, enter the uns with th e HGHER unit cost first in the cost of Goods Sold unit Cost column and LOWER unit cost first in the Inventory Unit Cost column, R LIFO Method Months E