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	9,000	$60.00	$540,000
Jan. 10	Purchase	21,000	70.00	1,470,000
Jan. 28	Sale	10,250	140.00	1,435,000
Jan. 30	Sale	5,750	140.00	805,000
Feb. 5	Sale	3,500	140.00	490,000
Feb. 10	Purchase	39,500	75.00	2,962,500
Feb. 16	Sale	15,000	150.00	2,250,000
Feb. 28	Sale	10,000	150.00	1,500,000
Mar. 5	Purchase	25,000	82.00	2,050,000
Mar. 14	Sale	30,000	150.00	4,500,000
Mar. 25	Purchase	10,000	88.40	884,000
Mar. 30	Sale	19,000	150.00	2,850,000

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.

Date	Purchases Quantity	Purchases Unit Cost	Purchases Total Cost	Cost of Goods Sold Quantity	Cost of Goods Sold Unit Cost	Cost of Goods Sold Total Cost	Inventory Quantity	Inventory Unit Cost	Inventory Total Cost
Jan. 1							fill in the blank	$fill in the blank	$fill in the blank
Jan. 10	fill in the blank	$fill in the blank	$fill in the blank				fill in the blank	fill in the blank	fill in the blank
Jan. 28				fill in the blank	$fill in the blank	$fill in the blank	fill in the blank	fill in the blank	fill in the blank
Jan. 30				fill in the blank	fill in the blank	fill in the blank	fill in the blank	fill in the blank	fill in the blank
Feb. 5				fill in the blank	fill in the blank	fill in the blank	fill in the blank	fill in the blank	fill in the blank
Feb. 10	fill in the blank	fill in the blank	fill in the blank				fill in the blank	fill in the blank	fill in the blank
Feb. 16				fill in the blank	fill in the blank	fill in the blank	fill in the blank	fill in the blank	fill in the blank
Feb. 28				fill in the blank	fill in the blank	fill in the blank	fill in the blank	fill in the blank	fill in the blank
Mar. 5	fill in the blank	fill in the blank	fill in the blank				fill in the blank	fill in the blank	fill in the blank
Mar. 14				fill in the blank	fill in the blank	fill in the blank	fill in the blank	fill in the blank	fill in the blank
Mar. 25	fill in the blank	fill in the blank	fill in the blank				fill in the blank	fill in the blank	fill in the blank
Mar. 30				fill in the blank 64	fill in the blank	fill in the blank	fill in the blank	fill in the blank	fill in the blank
Mar. 31	Balances					$fill in the blank			$fill in the blank

2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period.

Line Item Description	Amount
Total sales
Total cost of goods sold
Gross profit

3. Determine the ending inventory cost as of March 31. fill in the blank 1 of 1$