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:

Required

1. record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated, using the weigted average cost method. Rount unit cost to two decimal places, if necessary

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.

$

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: 3. Determine the ending inventory cost as of March 31