Weighted Average Cost Method with Perpetual Inventory The beginning inventory for Midnight Supplies and data on purchases an Number Date Transaction of Units Per Unit Total Jan. 1 Inventory 7,600 $76.00 $577,600 10 Purchase 22,800 86.00 1,960,800 28 Sale 11,400 152.00 1,732,800 30 Sale 3,800 152.00 577,600 Feb. 5 Sale 1,520 152.00 231,040 10 Purchase 54,720 88.50 4,842,720 16 Sale 27,360 162.00 4,432,320 28 Sale 25,840 162.00 4,186,080 Mar. 5 Purchase 45,600 90.50 4,126,800 14 Sale 30,400 162.00 4,924,800 25 Purchase 7,600 91.00 691,600 30 Sale 26,600 162.00 4,309,200 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perp method. Round unit cost to two decimal places, if necessary. Round all tote erpetual Inventory record similar to the one illustrated in Exhibit 5, using the weighted average cost 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 Total Cost Quantity Unit Cost Total Cost Quantity Inventory Unit Cost Total Cost 7,600 1,960,800 11,400 3,800 1,520 4,842,720 27,360 25,840 4,126,800 30,400 691,600 26,600 profit from sales for the period 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