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 Unit Cost $ 185 20 Total Cost $ 3,790 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale ($270 each) Purchase Sale ($320 each) Purchase Sale ($345 each) Purchase 205 2,05e 215 2,150 2,115 $10,015 Problem 6-2A Part 1 Required: 1. Calculate ending inventory and cost of goods sold at March 31, using 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. Ending inventory Cost of goods sold 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 Unit Cost $185 Total Cost $ 3,700 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 205 2,050 Transactions Beginning inventory Sale ($270 each) Purchase Sale ($320 each) Purchase Sale ($345 each) Purchase 215 2,150 2,115 $10,015 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 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 $ 185 Total Cost $ 3.789 15 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale ($279 each) Purchase Sale ($320 each) Purchase Sale ($345 each) Purchase 205 2,25e 215 2,150 2,115 $10,015 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 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 Unit Cost $ 185 Total Cost $ 3,700 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 2,650 Transactions Beginning inventory Sale ($270 each) Purchase Sale ($320 each) Purchase Sale ($345 each) Purchase 205 215 2,150 235 2,115 $10.015 Problem 6-2A Part 4 4. Using weighted average cost, calculate ending inventory and cost of goods sold at March 31. (Round your Intermedlate and final answers to 2 decimal places.) Ending inventory Cost of goods sold 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 Unit Cost $ 185 Total Cost $ 3,700 2e Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 205 2,650 Transactions Beginning inventory Sale ($270 each) Purchase Sale ($320 each) Purchase Sale ($345 each) Purchase 215 2,150 2,115 $10,015 Problem 6-2A Part 5 5. Calculate sales revenue and gross profit under each of the four methods. (Round welghted-average cost amounts to 2 decimal places.) Identification FIFO L IFO Weighted- average cost Sales revenue Gross profit