Check 18 Part 7017 10 Required information 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) 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 cont Total Cont March 1 Beginning Inventory 55,000 March Sale (5400 each) March Purchase 270 2.700 Sale ($450 each) March 22 Purchase Sale (5475 each) March 30 Purchase 300 $13,200 Fri March 17 2010 March 27 8 10 12 9 2,200 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 se consists of four bikes from beginning inventory and eight bikes from the March 22 purchase Check my 18 Required information 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.) Part 7 View transaction list 10 Journal entry worksheet Record the LIFO adjustment Fence Note Edebitore credits General Journal Debit Credit Date March 31