3 ! t 1 of 7 Required information [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 Date Transactions Units Unit Cost Total Cost March 1 Beginning inventory 20 $245 $ 4,900 March 5 Sale ($350 each) 15 March 9 Purchase 10 265 2,650 March 17 Sale ($448 each) March 22 Purchase 10 275 2,750 March 27 Sale ($465 each) 12 March 30 Purchase 8 2.360 $12,660 8 eBook 295 For 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. Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. Ending inventory Cost of goods sold Part 2 of 7 1 points Required information The following information applies to the questions displayed below) Greg's Bicycle Shop has the following transactions related to its top-seling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system, Date Transactions Units Unit Cost March Total Cost 1 Beginning inventory 20 $245 March 5 Sale ($390 each) $ 4,900 15 March 9 Purchase 10 265 2,650 March 17 Sale ($440 each) 8 March 22 Purchase 18 275 2,750 March 27 Sale $465 each) 12 March 30 Purchase 295 2.360 $12,660 Boch For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sole consists of bikes from the Morch 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase. 2. Using FIFO, calculate ending inventory and cost of goods sold at March 31 Ending inventory Cost of goods sold Part 3 of 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 Date Transactions Units Unit Cost Total Cost March 1 Beginning inventory 20 $245 $ 4.900 March 5 Sale ($390 each 15 March 9 Purchase 265 2,650 March 17 Sale (5440 each) 8 March 22 Purchase 10 275 2.750 March 27 Sale (5465 each) 12 March 30 Purchase 8 295 2,360 $12,660 1 points co For the specific identification method, the March 5 sole 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. 3. Using LIFO, calculate ending inventory and cost of goods sold of March 31 Ending inventory Cost of goods sold 6 % 9 Part 4 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 Date Transactions Units Cost Total cost March 1 Beginning inventory 20 $245 54.910 March 5 Sale ( cach) March 9 Purchase 39 265 2.650 March 17 Sale $440 each March 22 Purchase 10 275 2.750 March 27 Sale (5465 each) 22 March 30 Purchase 3 295 12,360 $12,600 16 3 1 po both For 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. 4. Using weighted average cost calculate ending inventory and cost of goods sold on March 31. Round your intermediate and final answers to 2 decimal places.) Ending viventory Cost of goods sold ME 7 March. Greg's Bicycle Shop uses a periodic inventory system. Total cost $ 4,900 Parts of Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale (350 each) Purchase Sale ($440 each) Purchase Sale (5465 each) Purchase Units Unit Cost 20 $245 15 10 265 8 10 275 12 295 2,650 2.750 1 points 2, 360 $12,660 BOOK For 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 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 LIFO Weighted average cost Sales revenue Gross profit