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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
(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 Cost per Unit $225 Total Cost $ 4,500 Date Transactions March 1 Beginning inventory March 5 Sale ($350 each) March 9 Purchase March 17 Sale ($400 each) March 22 Purchase March 27 Sale ($425 each) March 30 Purchase 245 2,450 255 2,550 275 1,925 $ 11,425 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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