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: Date Transaction Number of Units Per Unit Total Jan. 1 Inventory 7,500 $75.00 $562,500 10 Purchase 22,500 85.00 1,912,500 28 Sale 150.00 1,687,500 11,250 3,750 30 Sale 150.00 1562,500 225.000 Feb. 5 Sale 1.500 150.00 10 Purchase 54,000 87.50 4.725,000 16 Sale 27,000 160.00 4,320,000 28 Sale 160.00 4,080,000 25,500 45,000 Mar. Purchase 89.50 4,027,500 14 Sale 30,000 160.00 4,800,000 675,000 25 Purchase 7.500 90.00 30 Sale 26,250 160,00 1.200.000 Required: Midnight Supplies Schedule of cost of Merchandise Sold Weighted Average Cast Method For the three months onded March 21 Cont of Merchandise Sold Quantity Unit Cost Total Cast Purchases Inventary Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost 2,500 75 562,500 lan 110 22,500 35 1,912,500 35 X 562,500 an 35 Tan 30 Feb Chapter 7 Problems elek Priette Teb 10 eh 10 95 5 Har 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. Total sales Total cost of merchandise sold Gross profit from sales 3. Determine the ending inventory cost as of March 31