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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
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. Units 20 Unit Coat $ 205 Total Cost $ 4,100 10 Date March 1 March 5 March 9 March 17 March 22 March 27 March 20 2,250 Transactions Deginning inventory Sale ($310 each) Purchase Sale ($360 each) Purchase Sale ($385 each) Purchase 225 235 2,350 255 2.295 $10,995 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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