Updated with photos------Need help with PR 6-2a LIFO perpetual inventory *note answer to question # 2.) Gross Profit is $5,773,125

Also, need help with PR 6-3a Weighted average cost method with perpetual inventory *note answer to question # 2.) Gross Profit $5,893,125

entries in the sales and cost of goods sold accounts. Assume that all sales were on account. 3. Determine the gross profit from sales for the period. 4. Determine the ending inventory cost as of March 3 5. Based upon the preceding data, would you expect the ending inventory using the last-in, first-out method to be higher or lower? PR 6-2A The beginning inventory at Midnight Supplies and data on purchases and sales for a three- LIFO perpetual inventory Obj. 2, 3 Gross profit, $5,773,125 month period are shown in Problem 6-1A. Instructions 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the EXCEL TEMPLATEsimilar to the one illustrated in Exhibit 4, using the last-in, first-out method. period 3. Determine the ending inventory cost as of March 31. PR 6-3A The beginning inventory for Midnight Supplies and data on purchases and sales for a three- month period are shown in Problem 6-1A. Instructions 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record Weighted average cost method with perpetual inventory Obj. 2, 3 Gross profit, $5,893,125 similar to the one illustrated in Exhibit 5, using the weighted average cost method. 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. 3. Determine the ending inventory cost as of March 31. Obj. 2, 3 PR 6-4A Periodic inventory by three methods The berinning inventory for Midnight Supplies and data on purchases and sales for a three- FO perpetual inventory ng inventory at Midnight Supplies and data on purchases a d ending March 31 are as follows: nd sales f Number of Units 7,500 22,500 11,250 3,750 1,500 54,000 27,000 25,500 45,000 30,000 7,500 26,250 Per Unit Transaction Date Jan. 1 Inventory Total 75.00 562,500 1,912,500 1,687,500 562,500 225,000 4,725,000 4,320,000 4,080,000 4,027,500 4,800,000 675,000 4,200,000 10 Purchase 28 Sale 30 Sale 85.00 150.00 150.00 150.00 87.50 160.00 160.00 89.50 160.00 90.00 160.00 Feb. 5 Sale 10 Purchase 16 Sale 28 Sale Mar. 5 Purchase 14 Sale 25 Purchase 30 Sale (C Chapter 6 Inventories Instructions 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record 2. Determine the total sales and the total cost of goods sold for the period. Journalize th 3. Determine the gross profit from sales for the period. 5. Based upon the preceding data, would you expect the ending inventory using the last-in similar to the one illustrated in Exhibit 3, using the first-in, first-out method entries in the sales and cost of goods sold accounts. Assume that all sales were on account. Determine the ending inventory cost as of March 31 first-out method to be higher or lower? PR 6-2A LIFO perpetual inventory Obj. 2, 3 eginning inventory at Midnight Supplies and data on purchases and sales for a three 773,125 month period are shown in Problem 6-1A. Instructions 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4, using the last- in, first-out method. 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the L TEMPLATE period. 3. Determine the ending inventory cost as of March 31 PR 6-3A Weighted average cost method with perpetual inventory The beginning inventory for Midnight Supplies and data on purchases and sales for a three- month period are shown in Problem 6-1A. Instructions 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record Obj. 2, 3 s profit, 893,125 similar to the one illustrated in Exhibit 5, using the weighted average cost method. 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. 3. Determine the ending inventory cost as of March 31 Obj. 2, 3 PR 6-4A Periodic inventory by three methods entory. The beginning inventory for Midnight Supplies and data on purchases and sales for a three- 881,250 month period are shown in Problem 6-1A Instructions 1. Determine the inventory on March 31 and the cost of goods sold for the three-month period 2. 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. month using the last-in, first-out method and the periodic inventory system period, using the weighted average cost method and the periodic inventory system. (Round the weighted average unit cost to the nearest cent.) fompare the gross profit and the March 31 inventories, using the following column headings: 3. Determine the inventory on March 31 and the cost of goods sold for the three n Weighted Average