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(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

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(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 $ 210 Total Cost $ 4,200 1 230 2,300 Date March March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale ($320 each) Purchase Sale ($370 each) Purchase Sale ($395 each) Purchase Units 20 15 10 8 10 12 7 240 2,400 260 1,820 $10,720 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. 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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