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Weighted average cost method with perpetual inventory The beginning inventory at Midnight Supplies and data on purchases and sales for a three - month period

Weighted average cost method with perpetual inventory
The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31 are as follows:
Date Transaction Number
of Units Per Unit Total
Jan. 1 Inventory 7,900 $70.00 $553,000
10 Purchase 23,70080.001,896,000
28 Sale 11,850140.001,659,000
30 Sale 3,950140.00553,000
Feb. 5 Sale 1,580140.00221,200
10 Purchase 56,88082.504,692,600
16 Sale 28,440150.004,266,000
28 Sale 26,860150.004,029,000
Mar. 5 Purchase 47,40084.504,005,300
14 Sale 31,600150.004,740,000
25 Purchase 7,90085.00671,500
30 Sale 27,650150.004,147,500

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