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Problem 6-2A Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (L06-3, 6-4,6-5) (The following information applies to the questions displayed below.) Greg's Blcycle 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 Unit Cost $240 Total Coat $ 4,800 Date March 1 March 5 March March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale ($380 each) Purchase Sale ($430 each) Purchase Sale ($455 each) Purchase Units 20 15 10 8 10 12 7 260 2,600 270 290 2,700 2,030 $12,130 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. Problem 6-2A Part 5 5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average cost amounts to 2 decimal places.) Specific Identification 5 10.750 FIFO LIFO $ Sales revenue Cost of goods sold Gross profit 10.750 10.750 S 6.825 3,925 s 6.875 3.8755 Weighted- average cost S 10,750.00 7.153.65 $ 2.596.35 7.425 s 3.325

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