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 7,000 $80.00 $560,000 10 Purchase 21,000 90.00 1,890,000 28 Sale 10,500 160.00 1,680,000 30 Sale 3,500 160.00 560,000 Feb. 5 Sale 1,400 160.00 224,000 10 Purchase 50,400 92.50 4,662,000 16 Sale 25,200 170.00 4,284,000 28 Sale 23,800 170.00 4,046,000 Mar. 5 Purchase 42,000 94.50 3,969,000 14 Sale 28,000 170.00 4,760,000 25 Purchase 7,000 95.00 665,000 30 Sale 24,500 170.00 4,165,000 Required: 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory