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: 1. Determine the inventory on March 31 and the cost of goods sold for the three-mooth pericd, using the finst-in; finst-out method and the periodic inventory system. inventory, March 31 : Cost of goods sold 5 2. Determine the inventory on March 31 and the cost of goods sold for the threo-month period, using the last-in, first-out method and the perlodic inventory system. Inventory, Mareh 317 Cost of goods sold $ 3. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the weighted average cost nh thod and the periodic inventary system. Round the weighted average unit cost to the nearest cent. Inventory, March 31 Cost of goods sold 1 4. Compare the gross profit and the March 31 inventories, using the foliowing column beadings. For those boxes in which you must enter subtracted or negative numbers use a minus sig s: 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: 1. Determine the inventory on March 31 and the cost of goods sold for the three-mooth pericd, using the finst-in; finst-out method and the periodic inventory system. inventory, March 31 : Cost of goods sold 5 2. Determine the inventory on March 31 and the cost of goods sold for the threo-month period, using the last-in, first-out method and the perlodic inventory system. Inventory, Mareh 317 Cost of goods sold $ 3. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the weighted average cost nh thod and the periodic inventary system. Round the weighted average unit cost to the nearest cent. Inventory, March 31 Cost of goods sold 1 4. Compare the gross profit and the March 31 inventories, using the foliowing column beadings. For those boxes in which you must enter subtracted or negative numbers use a minus sig s