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weighted average cost method with perpetual inventory. the beginning inventory for midnight supplies and data on purchases and sales for a three-montj period are as follows:

Weighted Average Cost Method with Perpetual Inventory The beginning inventory for Midnight Supplies and data on purchases and sales for a three-month period are as follows: Number Date Transaction of Units Per Unit Total Jan. 1 Inventory Purchase 7,400 22,200 $75.00 85.00 10 28 Sale 150.00 11,100 3,700 30 Sale 150.00 Feb. 5 Sale 150.00 10 Purchase 87.50 1,480 53,280 26,640 25,160 $555,000 1,887,000 1,665,000 555,000 222,000 4,662,000 4,262,400 4,025,600 3,973,800 4,736,000 666,000 4,144,000 16 Sale 160.00 160.00 28 Sale Mar. 5 un Purchase 44,400 89.50 14 Sale 29,600 160.00 25 Purchase 90.00 7,400 25,900 30 Sale 160.00 Required: + of anods sold data in a perpetual Inventory record similar to the one illustrated in Exhibits, using the weighted average cost 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one Illustrated in Exhibit 5, using the weighted average method. Round unit cost to two decimal places, if necessary. Round all total cost amounts to the nearest dollar Midnight Supplies Schedule of Cost of Goods Sold Weighted Average Cost Method For the Three Months Ended March 31 Purchases Cost of Goods Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Qua Jan. 1 Jan. 10 Jan. 28 Jan. 30 Feb. 5 Feb. 10 Feb. 16 Feb. 28 Mar. 5 Mar. 14 Mar 25 Mar 30 Mar. 31 Balances GEUSU Unts to the nearest dollar. Midnight Supplies Schedule of Cost of Goods Sold Weighted Average Cost Method For the Three Months Ended March 31 Cost of Goods Sold Purchases Unit Cost Total Cost Quantity Unit Cost Protal Cost Inventory Unit Cost Quantity Total Cost Mar. 14 Mar. 25 Mar. 30 Mar. 31 Balances 2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period. 4 Total sales . Total cost of goods sold Gross profit 3. Determine the ending inventory cost as of March 31

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