Question: eBookPrint Item Question Content Area Periodic Inventory by Three Methods The beginning inventory at Midnight Supplies and data on purchases and sales for a three

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Periodic Inventory by Three Methods
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 22,50085.001,912,500
28 Sale 11,250150.001,687,500
30 Sale 3,750150.00562,500
Feb. 5 Sale 1,500150.00225,000
10 Purchase 54,00087.504,725,000
16 Sale 27,000160.004,320,000
28 Sale 25,500160.004,080,000
Mar. 5 Purchase 45,00089.504,027,500
14 Sale 30,000160.004,800,000
25 Purchase 7,50090.00675,000
30 Sale 26,250160.004,200,000

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