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Problem 6-2A Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-8) The following information applies to
Problem 6-2A Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-8) 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 Cost per Unit Date March 1 Beginning inventory March 5 Sale ($360 each) March 9 Purchase March 17 Sale ($410 each) March 22 Purchase March 27 Sale ($435 each) March 30 Purchase Transactions Units Total Cost 20 $230 S 4,600 15 10 250 2,500 10 12 260 8 280 2,240 11,940
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