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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

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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. Unit cost $ 155 Total Cost $3,100 Units 20 15 se March 175 1,750 Date 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale (5210 each) Purchase Sale ($260 each) Purchase Sale ($285 each) Purchase 185 1,850 10 12 9 205 1,845 58,545 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. 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 2 Using FIFO, calculate ending inventory and cost of goods sold at March 31. Ending inventory Cost of goods sold 5 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. Ending inventory Cost of goods sold 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

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