2. Calculate ending inventory and cost of goods sold at March 31, using FIFO

3. Calculate ending inventory and cost of goods sold at March 31, using LIFO

4. Calculate the ending inventory and cost of goods sold at March 31, using weighted-average cost.

6. Comparing FIFO and LIFO, which is the more meaningful measure of ending inventory?

7. Record the LIFO adjustment in the general journal.

The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system. Cost per Unit $160 Total Cost $ 3,200 180 Date Transactions March Beginning inventory March 5 Sale ($220 each) March 9 Purchase March 17 Sale ($270 each) March 22 Purchase March 27 Sale ($295 each) March 30 Purchase Units 20 15 10 8 10 12 8 1,800 190 1,900 210 1,680 $ 8,580 17. value: 10.00 points Required Information Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. The March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase. Ending inventory Cost of goods sold