Mitchell Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March, Mitchell Bicycle Shop uses a periodic inventory system. For the specific identification method, the March 5 sole consists of bikes from beginning inventory, the March 17 sale consists of bikes \begin{tabular}{l} from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 \\ \hline \end{tabular} purchase. Required: 1. Calculate ending inventory and cost of goods sold at March 31 , using the specific identification methyd, 2. Using FIFO, calculote ending inventory and cost of goods sold ot March 31 3. Using LFO, calculote ending inventory and cost of goods sold at March 31 . 4. Using weighted-averege cost, calculate ending inventory and cost of goods sold at March 31 . 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Mitcheli Bicycle Shop chooses to report imventory using LIFO instead of FFO, record the LIFO adjustment. Complete this question by entering your answers in the tabs below