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Required information 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
Required information 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. Units 20 Unit Cost $ 235 Total Cost $ 4,700 15 10 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 2,550 Transactions Beginning inventory Sale ($370 each) Purchase Sale ($420 each) Purchase Sale ($445 each) Purchase 255 265 2,650 285 2,565 $ 12,465 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 Part 3 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. Ending inventory Cost of goods sold
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