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. Unit Cost $225 Total Cost $ 4,500 245 Units 20 15 10 8 10 12 7 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 2,450 Transactions Beginning inventory Sale ($350 each) Purchase Sale ($400 each) Purchase Sale ($425 each) Purchase 255 2,550 275 1,925 $11, 425 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. $ 3,150 Ending Inventory Cost of goods sold