Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31.

Mitchell Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Mitchell Bicycle Shop uses a periodic inventory system. Date Transactions Units Unit Cost March 1 Total Cost Beginning inventory 20 $245 $4,900 March 5 Sale ($390 each) 15 March 9 Purchase 10 265 2,650 March 17 Sale ($440 each) B March 22 Purchase 10 275 2,750 March 27 Sale ($465 each) 12 March 30 Purchase B 295 2,360 $12,660 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