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 Jan. 1 1 Inventory 10 Purchase 28 Feb. 5 30 Sale 10 16 28 Mar. 5 14 Transaction 25 30 Sale Sale Purchase Required: Sale Sale Purchase Sale Purchase Sale Number of Units 7,500 22,500 Per Unit Total $75.00 85.00 11,250 3,750 1,500 54,000 27,000 160.00 25,500 45,000 30,000 160.00 7,500 26,250 160.00 150.00 150.00 150.00 87.50 160.00 90.00 $562,500 1,912,500 4,725,000 4,320,000 4,080,000 89.50 4,027,500 1,687,500 Check My Work 10 more Check My Work uses remaining. 562,500 225,000 4,800,000 675,000 4,200,000 Dotorming the inventary on March 21 and the cost of marchandice cold for the three month narinducing the first in first out mathed and Previous

1. Determine the inventory on March 31 and the cost of merchandise sold for the three-month period, using the first-in, first-out method and the periodic inventory system. 2. Determine the inventory on March 31 and the cost of merchandise sold for the three-month period, using the last-in, first-out method and the periodic inventory system. 3. Determine the inventory on March 31 and the cost of merchandise sold for the three-month period, using the weighted average cost method and the periodic inventory system. Round the weiohted average unit cost to the nearest cent and final answers to the nearest dollar. 4. Compare the gross profit and the March 31 inventories, using the following column headings. Enter all amounts as positive numbers. 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: Required: 10 more Check My Work uses remaining 4. Compare the gross profit and the March 31 inventories, using the following column headings. Enter all amounts as positive numbers