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 as follows: Date Transaction Number of Units Per Unit Total Jan. 1 Inventory 7,100 $79.00 $560,900 10 Purchase 21,300 89.00 1,895,700 28 Sale 10,650 158.00 1,682,700 30 Sale 3,550 158.00 560,900 Feb. 5 Sale 1,420 158.00 224,360 10 Purchase 51,120 91.50 4,677,480 16 Sale 25,560 168.00 4,294,080 28 Sale 24,140 168.00 4,055,520 Mar. 5 Purchase 42,600 93.50 3,983,100 14 Sale 28,400 168.00 4,771,200 25 Purchase 7,100 94.00 667,400 30 Sale 24,850 168.00 4,174,800 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 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 Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Jan. 1 fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Jan. 10 fill in the blank 4 $fill in the blank 5 $fill in the blank 6 fill in the blank 7 fill in the blank 8 fill in the blank 9 Jan. 28 fill in the blank 10 $fill in the blank 11 $fill in the blank 12 fill in the blank 13 fill in the blank 14 fill in the blank 15 Jan. 30 fill in the blank 16 fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20 fill in the blank 21 Feb. 5 fill in the blank 22 fill in the blank 23 fill in the blank 24 fill in the blank 25 fill in the blank 26 fill in the blank 27 Feb. 10 fill in the blank 28 fill in the blank 29 fill in the blank 30 fill in the blank 31 fill in the blank 32 fill in the blank 33 Feb. 16 fill in the blank 34 fill in the blank 35 fill in the blank 36 fill in the blank 37 fill in the blank 38 fill in the blank 39 Feb. 28 fill in the blank 40 fill in the blank 41 fill in the blank 42 fill in the blank 43 fill in the blank 44 fill in the blank 45 Mar. 5 fill in the blank 46 fill in the blank 47 fill in the blank 48 fill in the blank 49 fill in the blank 50 fill in the blank 51 Mar. 14 fill in the blank 52 fill in the blank 53 fill in the blank 54 fill in the blank 55 fill in the blank 56 fill in the blank 57 Mar. 25 fill in the blank 58 fill in the blank 59 fill in the blank 60 fill in the blank 61 fill in the blank 62 fill in the blank 63 Mar. 30 fill in the blank 64 fill in the blank 65 fill in the blank 66 fill in the blank 67 fill in the blank 68 fill in the blank 69 Mar. 31 Balances $fill in the blank 70 $fill in the blank 71 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. Total sales $fill in the blank 72 Total cost of goods sold $fill in the blank 73 Gross profit $fill in the blank 74 3. Determine the ending inventory cost as of March 31. $fill in the blank 75