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Weighted average cost method with perpetual inventory The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31 are as follows: Required: 1. Record the inventory, purchases, and cost of goods soid data in a perpetual inventory record similar to the one lilustrated in Exhibit 5, using the weighted average cosi method. Round unit cost to two decimal places, if necessary. Round all total cost amounts to the nearest dollar. 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 ethod. Round unit cost to two decimal places, if necessary. Round all total cost amounts to the nearest dollar. 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period: 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. 3. Determine the ending inventory cost as of March 31