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	$230	$4,600
March 5	Sale ($360 each)	15
March 9	Purchase	10	$250	$2,500
March 17	Sale ($410 each)	8
March 22	Purchase	10	$260	$2,600
March 27	Sale ($435 each)	12
March 30	Purchase	8	$280	$2,240

Total: $11,940

1.

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

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