Weighted average cost method with perpetual inventory The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month perlod ending March 31 are as follows: 1. Recond the inventory, purchases, and cost of goods sold data in a perpetual imventery record similar to the ene illustrated in Exhibit 5 , using the weighted average cort method. Round unit cost to two decimit places, if necessary. Round all total cost ameunts to the searest dollar. Mich, 31. flalances 2. Desertnine the total sales, the tocal cost of goods sold, and the gress pront from sales for the peried. 3. Determine the ending inventory cost as of March 31 . x