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- dlane22@student... dominiquelano19@gm... py Place PVAMU FO... CHAPTER FOME... schedule - Apopka... [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. Bicycle Shop uses a periodic Inventory system. Units 20 Cost per Unit $180 Total Cost $ 3,600 Date Transactions March 1 Beginning inventory March 5 Sale ($260 each) March 9 Purchase March 17 Sale ($310 each) March 22 Purchase March 27 Sale $335 each) March 30 Purchase 200 2,000 2,100 1,610 $ 9,310 10.00 points Required Information Required: 1. Calculate ending inventory and cost of goods sold at March 31, using 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 Ending inventory Cost of goods sold 2. Using FIFO, calculate ending inventory and cost of goods sold at March 31. Ending inventory Cost of goods sold 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. Ending inventory Cost of goods sold 4. Using weighted average cost, calculate ending inventory and cost of goods sold at March 31. (Round your intermediat final answers to 2 decimal places.) Ending inventory Cost of goods sold 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 L IFO Weighted- average cost Sales revenue Gross profit

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