21 Required information Part 7 of 7 Problem 6-2A Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (L06-3, 6-4,6-5) (The following information applies to the questions displayed below.) 0.5 points 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. Skipped Units Unit Cost $ 165 Total Cost $3,300 eBook 10 185 1,850 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale $230 each) Purchase Sale ($280 each) Purchase Sale ($305 each) Purchase Print 195 1,950 References 1,505 $8,605 Problem 6-2A Part 7 7. If Greg's Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1. IT Inrers Hir-vie srrrrrrises Tra rner Inverter Isirri Hirs i. rrari Trip II i reniren 21 Required information View transaction list Part 7 of 7 Journal entry worksheet 0.5 points Skipped Record the LIFO adjustment. eBook Print Note: Enter debits before credits. References Date General Journal Debit Credit March 31 Record entry Clear entry View general journal 19 Required information Problem 6-2A Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4,6-5) (The following information applies to the questions displayed below.) Part 5 of 7 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. points Units 20 Unit Cost $ 165 Total Cost $3,300 Skipped 185 1,850 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale $230 each) Purchase Sale ($280 each) Purchase Sale ($305 each) Purchase eBook 195 1,950 Print 215 1,505 $ 8,605 References Problem 6-2A Part 5 5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average cost amounts to 2 decimal places.) Specific Identification FIFO L IFO Weighted- average cost Sales revenue Gross profit