Weighted Average Cost Method with Perpetual Inventory The beginning inventory of merchandise at Rhodes Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Number Date Transaction of Units Per Unit Total Apr. 31 Inventory 40 $670 $26,800 8 Purchase 120 690 82,800. 11 Sale 60 1,120 67,200 30 Sale 50 1,120 56,000 May 8 Purchase 100 700 70,000 10 Sale 80 1,120 89,600 19 12 Sale 30 1,120 33,600 28 Purchase 120 707 84,840 June 5 Sale 60 1,260 75,600 16 Sale 40 1,260 50,400 21 Purchase 180 712 128,160 28 Sale 190 1,260 239,400 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the weighted average cost method. Rhodes Co. Perpetual Inventory Account Weighted Average Cost Method For the three months ended June 30 Cost of Merchandise Sold Purchases Date Quantity Unit Cost Total Cost Quantity Apr. 3 Apr. 8 Apr. 11 Apr. 30 May 8 May 10 May 19 May 28 June 5 June 161 June 21 June 28 June 30 Balances Unit Cost Inventory Total Cost Quantity Unit Cost 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. Total sales Total cost of merchandise sold Gross profit from sales 3. Determine the ending inventory cost on June 30.