1.Calculate sales revenue and gross profit under each of the four methods

2.	If Gregs Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment.

Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March 2012 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Units 20 15 10 8 10 12 8 Transactions Cost per Unit Total Cost Beginning inventory Sale ($297 each) Purchase Sale ($353 each) Purchase Sale ($363 each) Purchase $198 208 241 247 $3,960 2,080 2,410 1,976 $10,426