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: Number Date Transaction of Units Per Unit Total Jan. 1 Inventory 7,700 $72.00 $554,400 10 Purchase 23,100 82.00 1,894,200 28 Sale 11,550 144.00 1,663,200 30 Sale 3,850 144.00 554,400 Feb. 5 Sale 1,540 144.00 221,760 10 Purchase 55,440 84.50 4,684,680 16 Sale 27,720 154.00 4,268,880 28 Sale 26,180 154.00 4,031,720 Mar. 5 Purchase 46,200 86.50 3,996,300 Sale 30,800 154.00 4,743,200 25 Purchase 7,700 87.00 669,900 30 Sale 26,950 154.00 4,150,300 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated 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 Sc Weighted Average Cost Meth For the Three Months Ended Ma. Purchases Cost of Go Check My Work Cung ang Get Homework Help With Chega Stud Get Homework Help With Chess Stud eBook 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 Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity 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 Datamine the total sales the total cost of oonds cold and the prosent from cales for the neid Check My Work Previous Next une touching and Get Homework Help With Chegg Stud.. Get Homework Help With Chegst Book s sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the weighted average cost essary. 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 Cost of Goods Sold Quantity Unit Cost Purchases Unit Cost Total Cost Inventory Unit Cost Total Cost Quantity Total Cost d, and the gross profit from sales for the period. Droid Net 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 Gross profit 3. Determine the ending inventory cost as of March 31. Check My Work
