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neque TUTTI GLI [The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain
neque TUTTI GLI [The following information applies to the questions displayed below.) 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. Date Transactions Units Unit Cont Total Cost March 1 Beginning inventory 20 $180 $3,600 March Sale ($260 each) 15 March Purchase 10 200 2,000 March 17 Sale (5310 each) 8 March 22 Purchase 10 210 2,100 March 27 sale (5335 each) March 30 Purchase 1.610 $9,310 5 9 12 7 230 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. Ending inventory Cost of goods sold 23 19 of 24 Next >
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