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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 (L06-3, 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 (L06-3, 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 Unit Cost $225 20 Total Cost $ 4,500 15 30 245 2,450 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Deginning inventory Sale ($350 cach) Purchase Sale (5400 each) Purchase Sale ($425 each) Purchase 10 255 2,550 275 1,925 $11, 425 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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