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Periodic inventory by three methods The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period ending March 31 are as follows: 1. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory syatemb Inventory, March 31 I Cost of goots sold s. 1. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system. Inventory, March 31 : Cost of goods sold 5 2. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system. Inventory, March 31 Cost of goods sold s 3. Determine the inventory on March 31 and the cost of goods sold for the three-month periad, using the weighted overage cost method and the periodic inventory system, Round the weighted average unit cost to the nearest cent. Inventory, March 31 : Cost of goods sold 5 4. Compare the gross profit and the March 31 inventories, using the following colurin headings, Yor those boxes in which you must enter subtracted of negative numbers use a minus sign

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