a)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.

b)Using FIFO, calculate ending inventory and cost of goods sold at March 31

c)Using LIFO, calculate ending inventory and cost of goods sold at March 31

d)Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. (Round your intermediate and final answers to 2 decimal places.)

e) Calculate sales revenue and gross profit under each of the four methods.(Round weighted-average cost amounts to 2 decimal places.)

f)Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory?

g)If Gregs 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.)

he folloing informaion appies to the questions displayed belowf Greg's Bicycle Shop has the following transactions related to its top-seling Mgoose mountain bike r the month of March. Greg's Bicyde Shop uses a periodic inventory system Cost per $250 270 280 300 Total Cost Date March 1 March 5 Sale ($400 each) March 9 March 17 ale (450 each) March 22 Purchase March 27 Sale (475 each) March 3O Furchase Transactions Units 20 15 10 Unit $5,000 2,700 2,800 2,700 $ 13,200 Beginning inventory Purchase 10 12