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 Jan. 1 10 28 30 Feb. 5 10 16 28 Mar. 5 14 25 30 Inventory Purchase Sale Sale Sale Purchase Sale Sale Purchase Sale Purchase Sale Number of Units Per Unit Total 7,500 $75.00 22,500 11,250 85.00 150.00 3,750 1,500 54,000 27,000 25,500 160.00 45,000 150.00 150.00 87.50 160.00 89.50 30,000 160.00 7,500 26,250 90.00 160.00 $562,500 1,912,500 1,687,500 562,500 225,000 4,725,000 4,320,000 4,080,000 4,027,500 4,800,000 675,000 4,200,000 Required: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the weighted average cost method. Round unit cost to two decimal places, if necessary.

Weighted Average Cost Methed 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 perpetoal inventory record similar to the one illustrated in Eahibr 5, using the weighted average cost method. Round unit cost to two decimal places, if necessary