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Instructions 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 2,700 $50.00 $136.000 10 Purchase 7,300 58.00 423,400 Sale 100.00 405,000 30 Sale 1.200 100.00 120.000 Feb 5 Sale 500 100.00 50.000 Purchase 80.00 1 020.000 18 Sale 9 200 106 00 968.000 28 Sale 8,000 105.00 840.000 Niar 5 Purchase 14 300 1.60 880 880 Sale 10 300 105 60 1 081.500 25 3.200 62.00 198.400 30 Sale 3.000 105.00 840000 Instructions 1. Record the inventory purchases and cost of goods sold data in a perpetua inventory record similar to the one strated in 3 usin first in frestesut method 2. Determine the total sales and the total cost of goods sold for the penod Joumalize the entres in the sales and cost of goods sold acount Badedrell have 1. Record the inventory purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibits, using the first-in, first-out method Under FIFO, units are in inventory at two different costs, enter the units with the the inventary Unit Gost column Date Purchases Cost of Goods Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Jan. 1 2,700 10 7.300 $58.00 S423.400 V 2.700 10 7.300 28 $50.00 $135.000 28 2.700 4,050 X 1.200 $58.00 Szex 30 $58.00 $69.600 Feb. 5 500V $58.00V $29.000 10 18 18 $ Man 5 15 5 14 Next Check My Work Email Instructor Save and Exit Submit Assignment for Grading All work saved, 10:34 AM