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 7,500 $75.00 $562,500 10 Purchase 22,500 85.00 1,912,500 28 Sale 11,250 150.00 1,687,500 30 Sale 3,750 150.00 562,500 Feb. 5 Sale 1,500 150.00 225,000 10 Purchase 54,000 87.50 4,725,000 0 16 Sale 27,000 160.00 4,320,000 28 Sale 25,500 160.00 4,080,000 Mar 5 Purchase 45,000 89.50 4,027,500 14 Sale 30,000 160.00 4,800,000 25 Purchase 7,500 90.00 675,000 30 Sale 25.250 160.00 4.200.000 1. Record the inventory, purchases, and cost of merchandise sold data in perpetual inventory record similar to the one illustrated in Exhibits, using the weighted average cost method. Round unit cost to two decimal places, if necessary Midnight Supplies Schedule of Cost of Merchandise Sold Weighted Average Cost Method For the three months ended March 31 Cost of Merchandise Sold Quantity Unit Cost Total Cost Purchases Inventory Unit Cost Date Unit Cost Quantity Total Cost Total Cost Quantity Jan 1 Jan 10 an. 20 an0 10 16 Mar. 25 Mar. 30 Mar 31 Balances 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period Total sale Total cost of merchandise old Gross profit from a 2. Determine the ending Inventory costs of March