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: Number Date Transaction Per Unit Total of Units Jan. 1 Inventory 7,500 $75.00 $562,500 10 Purchase 22,500 85.00 1,912,500 28 Sale 11,250 150.00 3.750 150.00 30 Feb. 5 10 Sale Sale Purchase 1,500 150.00 87.50 16 Sale 54,000 27,000 25,500 160.00 160.00 1,687,500 562,500 225,000 4,725,000 4,320,000 1,080,000 4,027,500 4,800,000 675,000 4,200,000 28 Sale Mar. Purchase 45,000 89.50 14 Sale 25 Purchase 30,000 7,500 26,250 160.00 90.00 160.00 30 Sale Required: 1. Record the inventory purchases and cost of merchandise sold data in a perpetual inventory record similar to the one ilustrated in Exhibit 5 using the Check My Work Email instructor Save and Submit Assignment for Grading