Weighted Average Cast Method with Perpetual Inventory The beginning inventory for Midnight Supplies and data on purchases and sales for a three-month period we as follows Number Date Transaction of Units Per Unit Total Jan. 1 Inventory -7.900 $70,00 $550.000 10 Purchase 21.700 80.00 1,696.000 28 Sale 11.650 140.00 1,639,000 30 Salle 3,950 140.00 553,000 Feb. 5 Sale 1.500 140.00 -221,200 10 Purchase 56.880 82.50 16 Sale 28,440 150.00 4,266.000 28 Sale 26.060 150.00 4,025.000 Mars Purchase 47.400 3.50 4.005,300 14 Sale 31,600 150.00 4.740.000 23 Purchase 7.900 85,00 671.500 30 Sale 27,650 150.00 4,147.500 Required: 1. Record the inventory purchases, and cost of goods sold data in perpetual inventory record similar to the one flustrated in Exhibit 5. using the weighted average cost method. Round un cost to the decimal place, necessary. Round all total cost amounts to the nearest dolls Midnight Supplies Schedule of Cost of Goods Sold Weighted Average Cost Method For the Three Months Ended March 31 Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cast Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Jan. 1 $ Purchases wer For the Three Months Ended March 31 Cast of Goods Quantity Una Cost Date Quantity Unit Cost Total Cost Total Cont Quantity Inventory Unit Cast Total Cest Jan. 1 Jan. 10 Jan. 28 Jan. 30 Feb. 5 Feb. 10 Feb. 16 Feb. 28 Mar. 5 Mar. 14 Mar. 25 Mar. 30 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 5 Gross profit $ 3. Determine the ending inventory cost as of March 31