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. Units Unit Cost $ 205 20 Total Cost $ 4,100 15 Transactions Beginning inventory Sale ($310 each) Purchase Sale ($360 each) Purchase Sale ($385 each) Purchase 225 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 2,250 235 2,350 255 2,295 $10,995 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.) View transaction list Journal entry worksheet Record the LIFO adjustment