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: Number Date Transaction of Units Per Unit Total Jan. 1 Inventory 7,200 $77.00 $554,400 10 Purchase 21,600 87.00 1,879,200 28 Sale 10,800 154.00 1,663,200 30 Sale 3,600 154.00 554,400 Feb. 5 Sale 1,440 154.00 221,760 10 Purchase 51,840 89.50 4,639,680 16 Sale 25,920 164.00 4,250,880 28 Sale 24,480 164.00 4,014,720 Mar. 5 Purchase 43,200 91.50 3,952,800 14 Sale 28,800 164.00 4,723,200 25 Purchase 30 Sale 7,200 92.00 662,400 25,200 164.00 4,132,800 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 we Round unit cost to two decimal places, if necessary. Round all total cost amounts to the nearest dollar. Check My Work Type here to search D W 64F Rain showers Cost of Cost of Purchases Total Cost Goods Sold Goods Sold Quantity Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost 7,200 77.00 554,400 1,879,200 28,800 o search 64F Rain showers Previous Next End Invert 12:31 PM 4/13/2023 164.00 4,132,800 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 meth Round unit cost to two decimal places, if necessary. Round all total cost amounts to the nearest dollar. Purchases Purchases Date Quantity Unit Cost Purchases Total Cost Cost of Goods Sold Quantity Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Jan. 1 7,200 Jan. 10 21,600 87 1,879,200 28,800 Jan. 28 Jan. 30 Feb. 5 Feb. 10 Feb. 16 Feb. 28 Mar. 5 Mar. 14 Mar. 25 Check My Work Type here to search 64F Rain showers Previous Next 12:31 4/13/2 Jan. 10 21,600 87 1,879,200 Jan. 28 Jan. 30 Feb. 5 Feb. 10 Feb. 16 Feb. 28 Mar. 5 Mar. 14 Mar. 25 Mar. 30 Mar. 31 Balances | | | 111 11 1 1 11 11 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 Type here to search D 20 1 11 400 64F Rain showers Prev n sales for the period. C $ 28,800 W 64F Rain showers < Previous Next 12:31 PM 4/13/2023 eb. 5 eb. 10 eb. 16 Feb. 28 Mar. 5 Mar. 14 Mar. 25 Mar. 30 Mar. 31 Balances 4 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 Type here to search EI B 1 1 11