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Required information The following information applies to the questions displayed Date 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 Date 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 Units Unit Cost Total Coat March 1 Beginning Inventory 20 5 230 $ March 5 Sale $360 ench) March 9 Purchase 10 March 17 Sale ($410 each) March 22 Purchase March 27 Sale (5435 each) March 30 Purchase 15 899 2.500 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 2. Using FIFO, calculate ending Inventory and cost of goods sold at March 31. Ending inventory Cost of goods sold

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