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Gregs 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

Gregs 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.

Date Transactions Units Unit Cost Total Cost
March 1 Beginning inventory 20 $ 205 $ 4,100
March 5 Sale ($310 each) 15
March 9 Purchase 10 225 2,250
March 17 Sale ($360 each) 8
March 22 Purchase 10 235 2,350
March 27 Sale ($385 each) 12
March 30 Purchase 9 255 2,295
$ 10,995

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

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

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