Please type, do not write as it often gets hard to read and understand.

ebook Weighted Average cost Method with Perpetual Inventory The beginning inventory for Midnight Supplies and data on purchases and sales for a three-month period are as follows: Number Date Transaction of Units Per Unit Total Jan. 1 Inventory 8,000 $74.00 $592,000 10 Purchase 24,000 84.00 2,016,000 28 Sale 12,000 148.00 1,776,000 30 Sale 4,000 148.00 592,000 Feb. 5 Sale 1,600 148.00 236,800 10 Purchase 57,600 86.50 4,982,400 16 Sale 28,800 158.00 4,550,400 28 Sale 27,200 158.00 4,297,600 Mar. 5 Purchase 48,000 88.50 4,248,000 14 Sale 32,000 158.00 5,056,000 25 Purchase 8,000 89.00 712,000 30 Sale 158.00 4,424,000 28,000 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the weighted average cost method. Round unit cost to two decimal places, if necessary. Round all total cost amounts to the nearest dollar. Midnight Supplies Schedule of Cost of Goods Sold Weighted Average Cost Method For the Three Months Ended March 31 Purchases Cost of Goods Sold Next Check My Work Previous All work saved Email instructor Save and Edit Submit Assignment for Grading Mar. 31 Balances 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. Total sales Total cost of goods sold Gross profit 3. Determine the ending inventory cost as of March 31. Check My Work All work saved. Email Instructor 5 F5