Periodic inventory by three methods FIFO LIFO Weighted Average Final Question Instructions The beginning inventory for Midnight Supplios and data on purchases and sales for a throe month period are as follows Transaction Number of Units Per Unit 7,500 5 562,500 Inventory 10 Purchase 28 Sale 30 Sale 5 Sale 10 Purchase 16 Sale 28 Sale Jan. 85.001,912,500 150.00 150.00 150.00 11,250 1,687,500 1,500 54,000 27.000 Feb. 87.504,725,000 160,00 320,000 160.00 4,080,000 89.504,027,500 160.00 4,800,000 Mar. 5 Purchase 4 Sale 25 Purchase 30 Sale 7,500 160.00 4,200,000 lnstruetions 1. Determine the inventory on March 31 and the cost of goods sold for the throe-month period, using the Nrst-in.frst out.method and the perodie nventory sysm 2 Determine the inventory on March 31 and the cost of goods sold for the three month period, using the lastin. rtt method and the pestodic