Test 2 Calculator 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 of Units Date Transaction Per Unit Total Jan. 1 Inventory 7,200 $74.00 $532,800 10 Purchase 21,600 84.00 1,814,400 28 Sale 148.00 1,598,400 10,800 3,600 30 Sale 148.00 532,800 Feb. 5 Sale 1,440 148.00 213,120 10 Purchase 51,840 86.50 4,484,160 16 Sale 25,920 158.00 4,095,360 28 Sale 24,480 158.00 3,867,840 Mar. 5 Purchase 43,200 88.50 3,823,200 14 Sale 28,800 158.00 4,550,400 25 Purchase 7,200 89.00 640,800 3,981.600 30 Sale 25,200 158.00 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. , . . Midniaht Supplies Previous Next All work saved. Save and Exit Submit Test for Grading Test 2 Calculator Mianignt supplies Schedule of Cost of Goods Sold Weighted Average Cost Method For the Three Months Ended March 31 Cost of Goods Sold Purchases Inve Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Jan. 1 $ Jan. 10 $ $ Jan. 28 $ $ Jan. 30 Feb. 5 Feb. 10 > Feb. 16 Feb. 28 Mar. 5 Mar. 14 Mar. 25 Mar. 30 Mar. 31 Balances Previous Next All work saved. Save and Exit Submit Test for Grading Test 2 Calculator Manignt supplies Schedule of Cost of Goods Sold Weighted Average Cost Method For the Three Months Ended March 31 Cost of Goods Sold Quantity Unit Cost Purchases Inventory Unit Cost Quantity Unit Cost Total Cost Total Cost Quantity Total Cost $ $ $ $ $ $ plances Previous Next All work saved. Save and Exit Submit Test for Grading Test 2 Calculator Jan. 28 Jan. 30 Feb. 5 Feb. 10 Feb. 16 Feb. 28 Mar. 5 Mar. 14 Mar. 25 Mar. 30 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 5 Gross profit 3. Determine the ending inventory cost as of March 31. Previous Next All work saved. Save and Exit Submit Test for Grading