Total Cost $ 3,900 March. Greg's Bicycle Shop uses a periodic inventory system Date Transactions Units Unit Cost March 1 Beginning inventory 20 $ 195 March 5 Sale ($299 each) 15 March 9 Purchase 10 215 March 17 Sale ($340 each) 8 March 22 Purchase 10 225 March 27 Sale (5365 each) 12 March 30 Purchase 7 245 2,150 2,250 1,715 $10,015 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. Ending inventory Cost of goods sold [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 Transactions Units Unit Cost Total Cost March 1 Beginning inventory $ 3,900 Sale ($290 each) 2,150 March Sale (5340 each) March 22 Purchase March 27 Sale (5365 each) Purchase Date $ 195 March March 5 9 17 Purchase 215 20 15 10 8 10 12 7 225 2,250 March 30 245 1,715 $10,015 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 [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, Date Transactions Units Unit Cost Total Cost March 1 Beginning inventory 20 $195 $ 3,900 March 5 Sale (5290 each) 15 March 9 Purchase 10 215 2,150 March 17 Sale (5340 each) 8 March 22 Purchase 10 225 2,250 March 27 Sole ($365 each) 12 March 30 Purchase 7 245 1,715 $10,015 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. 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31 Ending inventory Cost of goods sold Line tollowing information apples 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 Date Transactions Units Unit Cost Total Cost March 1 Beginning inventory 20 $ 195 $ 3,900 March 5 Sale (5290 each) 15 March 9 Purchase 10 2,150 March 17 Sale (5340 each) 8 March 22 Purchase 10 225 2,250 March 27 Sale (5365 each) 12 March 30 Purchase 7 245 1,715 $10,015 215 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 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.) Eriding inventory Cost of goods sold 1 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. Date Transactions Units Unit Cost Total Cost March Beginning inventory 20 $ 195 $ 3,900 March 5 Sale ($290 each) 15 March 9 Purchase 10 215 2,150 March 17 Sale ($349 each) 8 March 22 Purchase 225 2,250 March 27 Sale (5365 each) March 30 Purchase 7 245 1,715 $10,015 10 12 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 Cost of goods sold Gross profit

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