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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
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 1 Units 20 15 10 Total Cost $3,600 $ 180 5 Date March March March March March March March 9 Transactions Beginning inventory Sale ($260 each) Purchase Sale ($310 each) Purchase Sale ($335 each) Purchase 200 2,000 8 22 27 210 2,100 10 12 7 30 230 1,610 $9,310 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.) 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.) Ending inventory Cost of goods sold
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