Problem 6-2A Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4,6-5) (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. Unit Cost $ 175 Total Cost $3,500 1 195 1,950 Date March March March March March March March 5 9 17 22 27 30 Transactions Beginning inventory Sale ($250 each) Purchase Sale ($300 each) Purchase Sale ($325 each) Purchase Units 20 15 10 8 19 12 8 205 2,050 225 1,800 $9,300 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. Problem 6-2A Part 1 Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. Ending inventory Cost of goods sold Problem 6-2A Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4,6-5) [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. Unit Cost $ 175 Total Cost $3,500 1 5 195 Date March March March March March March March Transactions Beginning inventory Sale ($250 each) Purchase Sale ($300 each) Purchase Sale ($325 each) Purchase Units 20 15 10 8 10 12 8 1,950 205 2,050 17 22 27 30 225 1,800 $9,300 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. Problem 6-2A Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at March 31. Ending inventory Cost of goods sold Problem 6-2A Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4,6-5) (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 March Unit Cost $ 175 Total Cost $3,500 1 March 195 1,950 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale $250 each) Purchase Sale ($300 each) Purchase Sale ($325 each) Purchase Units 20 15 10 10 o 8 10 12 8 205 2,050 225 1,800 $9,300 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. Problem 6-2A Part 3 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. Ending inventory Cost of goods sold