es [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. Transactions Beginning inventory Sale ($210 each) Purchase Date Units Unit Cost Total Cost March 1 20 $155 $3,100 March 5 15 March 9 10 175 1,750 March 17 Sale ($260 each) 8 March 22 Purchase 10 185 1,850 March 27 March 30 Sale ($285 each) Purchase 12 9 205 1,845 $8,545 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