The beginning inventory for Midnight Supplies and data on purchases and sales for a three-month period are as follows: Number Date Transaction of Units Per Unit Total Jan. 1 Inventory 7,800 $73.00 $569,400 10 Purchase 23,400 83.00 1,942,200 28 Sale 11,700 146.00 1,708,200 30 Sale 3,900 146.00 569,400 Feb. 5 Sale 1,560 146.00 227,760 10 Purchase 56,160 85.50 4,801,680 16 Sale 28,080 156.00 4,380,480 28 Sale 26,520 156.00 4,137,120 Mar. 5 Purchase 46,800 87.50 4,095,000 14 Sale 31,200 156.00 4,867,200 25 Purchase 7,800 88.00 686,400 30 Sale 27,300 156.00 4,258,800 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the weighted average cost method. Round unit cost to two decimal places, if necessary. Round all total cost amounts to the nearest dollar. Midnight Supplies Purchases Schedule of Cost of Goods Sold Weighted Average Cost Method For the Three Months Ended March 31 Cost of Goods Sold Date Quantity Unit Cost Total Cost Jan. 1 Jan. 10 Jan. 28 Jan. 30 Feb. 5 Feb. 10 Feb. 16 Feb. 28 Mar. 5 Mar. 14 Mar. 25 Mar. 30 Quantity Mar. 31 Balances 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. Total sales Total cost of goods sold Gross profit 3. Determine the ending inventory cost as of March 31. Unit Cost Inventory Total Cost Quantity Unit Cost Total Cost