Problem 6-2A Calculate ending Inventory, Cost OT goods sola, Stales revenue, and gro55 protit Tor Tour 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. Part 5 of 7 Units 20 Unit Cost $ 250 Total Cost $ 5,000 270 Transactions Beginning inventory Sale ($400 each) Purchase Sale ($450 each) Purchase Sale ($475 each) Purchase 2,700 0.9 points Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 280 2,800 Skipped 300 2,700 $13,200 Print Problem 6-2A Part 5 5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted average cost amounts to 2 decimal places.) Specific Identification FIFO L IFO Weighted- average cost Sales revenue Gross profit 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. Part 7 of 7 Units 20 Unit Cost $ 250 Total Cost $ 5,000 15 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 270 2,700 points Transactions Beginning inventory Sale ($400 each) Purchase Sale ($450 each) Purchase Sale ($475 each) Purchase 2,800 Skipped 280 300 2,700 $13, 200 Print Problem 6-2A Part 7 7. If Greg's Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the LIFO adjustment. Required information 11 View transaction list Part 7 of 7 Journal entry worksheet points Record the LIFO adjustment. Skipped Print Note: Enter debits before credits. Date General Journal Debit Credit March 31 Record entry Clear entry View general journal 00 Problemi 6-2A Calculdle eriuiliy riverury, CUSC Ul youus Sulu, Sdles reverie, dliu yrUSS ProIIL Iur iuur 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. Part 4 of 7 Units 20 15 10 Unit Cost $ 250 Total Cost $ 5,000 0.9 points 270 2,700 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale ($400 each) Purchase Sale ($450 each) Purchase Sale $475 each) Purchase 280 2,800 Skipped 2 300 2,700 $13,200 Print Problem 6-2A Part 4 4. Using weighted average cost, calculate ending inventory and cost of goods sold at March 31. (Round your intermediate and final answers to 2 decimal places.) Ending inventory Cost of goods sold