Weighted Average Cost Method with Perpetual InventoryThe beginning inventory at Midnight Supplies and data on purchases and sales for a three$-$month period ending March $31,$ are as follows:Date TransactionNumberof UnitsPer UnitTotalJan. $1$ Inventory$7,500$ $$75\mathrm{.}00$ $$562,50010$ Purchase$22,50085\mathrm{.}001,912,50028$ Sale$11,250150\mathrm{.}001,687,50030$ Sale$3,750150\mathrm{.}00562,500$ Feb. $5$ Sale$1,500150\mathrm{.}00225,00010$ Purchase$54,00087\mathrm{.}504,725,00016$ Sale$27,000160\mathrm{.}004,320,00028$ Sale$25,500160\mathrm{.}004,080,000$ Mar. $5$ Purchase$45,00089\mathrm{.}504,027,50014$ Sale$30,000160\mathrm{.}004,800,00025$ Purchase$7,50090\mathrm{.}00675,00030$ Sale$26,250160\mathrm{.}004,200,000$ 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.Midnight SuppliesSchedule of Cost of Merchandise SoldWeighted Average Cost MethodFor the three months ended March $3$