eBook Weighted Average Cost Method with Perpetual Inventory The beginning inventory for Midnight Supplies and data on purchases and sales for a three-month period are as follows: Number Date Transaction of Units Per Unit Total Jan. 1 Inventory 7,600 $78.00 $592,800 10 Purchase 22,800 88.00 2,006,400 28 Sale 11,400 156.00 1,778,400 30 Sale 3,800 156.00 592,800 Feb. 5 Sale 1,520 156.00 237,120 10 Purchase 54,720 90.50 4,952,160 16 Sale 27,360 166.00 4,541,760 28 Sale 25,840 166.00 4,289,440 Mar. 5 Purchase 45,600 92.50 4,218,000 14 Sale 30,400 166.00 5,046,400 25 Purchase 7,600 93.00 706,800 30 Sale 26,600 166.00 4,415,600 1. Record the inventory, purchases, and cost of goods soldata in perpetuo inventory record simlar to the one ilustrated that in the weighted cost med Round unto todom Dioces, if necessary. Round all total cost amounts to the rear Midnight Supplies Schedule of Cost Goods Sold Weighted Average cost Method For the Three Manthanded March 31 Purchases Cost of Good Said Inventory Date Quantity Unit Cost Total Cout Quantity Un cout Ya Cout Quantity Unit Cout Total lan Jan 10 San. 20 30 Te5 Fas 20 Mar Mar 14 Mar 25 Mar 30 Mar 31 PW 2. Determine the total sales, the cost of oudswanderthal My W Sommar 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. $