! Required information [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. Transactions Beginning inventory Date March 1 Units 20 Unit Cost $200 Total Cost $ 4,000 March 5 Sale ($300 each) 15 March 9 Purchase 10 220 2,200 March 17 Sale ($350 each) 8 March 22 March 27 March 30 Purchase 10 230 2,300 Sale ($375 each) Purchase 12 8 250 2,000 $10,500 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. Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. Ending inventory Cost of goods sold