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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. March 1 Beginning Cost per Date Transactions Units Unit Total Cost 20 $240 $4,800 inventory March Sale ($380 each) 15 5 March Purchase 10 260 2,600 9 March Sale ($430 each) 8 17 March Purchase 10 270 2,700 22 March Sale ($455 each) 12 27 March Purchase 7 290 2,030 30 $12,130 5. Calculate sales revenue and gross profit under each of the four methods.(Round weighted average cost amounts to 2 decimal places.) Specific Identification FIFO LIFO Weighted average cost Sales revenue Gross profit
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