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Greg's Bicycle Shop has the following transactions related to its top-selling...

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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 Cost per Date Mach Begng inventory March 5 Sale ($350 each) March 9 Purchase March 17Sale ($400 each) March 22 Purchase March 27 Sale ($425 cach) March 30 Purchase Transactions UnitsUnit Total Cost 20 $225 15 10 245 255 275 4,500 2.450 2,550 1.925 $11,425 10 12 value Required information 100 points 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 3,150 8,275 $

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