Gregs Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March 2015. Greg's Bicycle Shop uses a periodic inventory system.

Date

Transactions

Units

Cost per Unit

Total Cost

March 1

Beginning inventory

20

$250

$

5,000

March 5

Sale ($400 each)

15

March 9

Purchase

10

270

2,700

March 17

Sale ($450 each)

8

March 22

Purchase

10

280

2,800

March 27

Sale ($475 each)

12

March 30

Purchase

9

300

2,700

$

13,200

2.

Using FIFO, calculate ending inventory and cost of goods sold at March 31, 2015.

Ending Inventory=

Costs of goods sold=

3.	Using LIFO, calculate ending inventory and cost of goods sold at March 31, 2015. Ending Inventory= Costs of goods sold= 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31, 2015 Ending Inventory= Costs of goods sold=