*This is the 2nd time submitting this question. The first time I asked for an explanation and it left me as confused as ever, and the answers that were provided were marked incorrect by my workstation. I only have one more shot at this, and I'm really trying to understand. When you answer parts 1-7, please organize your work clearly, and very clearly mark the correct answer. (for instance; 20-15-8-12=0 is not a correct answer, and it's confusing.) I also have another unanswered question of a very similar nature, if you need a clearer understanding of the question, please mark as more info needed and I will provide a screenshot.

Ariana Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Ariana Bicycle Shop uses a periodic inventory system. 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. Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. 2. Using FIFO, calculate ending inventory and cost of goods sold at March 31. 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Ariana Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment