Weighted average cast 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 followsi Requlred: 1. Record the inventory, purchases, and cost of goods sold dota 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. 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 profic 3x5x d)