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 Date March 1 Units 20 Unit Cost Total Cost $165 $3,300 March 5 Sale ($230 each) 15 March 9 Purchase 10 185 1,850 March 17 Sale ($280 each) 8 March 22 Purchase 10 195 1,950 March 27 Sale ($305 each) 12 March 30 Purchase 7 215 1,505 $8,605 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. 4. 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.) Answer is complete but not entirely correct. Ending inventory 2.445.69 Cost of goods sold $ 6,159.31 ( March. Greg's Bicycle Shop uses a periodic inventory system. Date Transactions Units March 1 Beginning inventory 20 Unit Cost $165 Total Cost $3,300 March March 9 5 Sale ($230 each) 15 Purchase 10 185 1,850 March 17 Sale ($280 each) March 22 Purchase 10 195 1,950 March 27 Sale ($305 each) 12 March 30 Purchase 7 215 1,505 $8,605 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. 5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average cost amounts to 2 decimal places.) Sales revenue Cost of goods sold Gross profit Specific Identification FIFO LIFO Weighted- average cost inventory system. March March 5 Beginning inventory Units 20 Unit Cost Total Cost $165 $3,300 Sale ($230 each) 15 March 9 Purchase 10 185 1,850 March 17 Sale ($280 each) 8 March 22 Purchase 10 195 1,950 March 27 March 30 Sale ($305 each) Purchase 12 215 1,505 $8,605 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. 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. Answer is complete but not entirely correct. Ending inventory $ 2,330 Cost of goods $ 6,275 sold