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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. Total Cost Unit Cost $250 $ 5,000 Date March 1 March 5 March 9 March17 March22 March27 March30 Transactions Units Beginning 20 inventory Sale ($400 each) Purchase Sale ($450 each) Purchase Sale $475 each) Purchase 270 2,700 2,800 300 2,700 $13,200 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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