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Problem 6-2A (Static) Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for our inventory methods (LO6-3, 6.4, 6-5) Gieg'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. For the specific identufication method, the March 5 sale consists of bikes from begining inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sole consists of four bikes from beginning inventory and eight bikes from the March 22 puschise Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific icfentification method 2. Using FFO, calculate ending irventory and cost of goods sold at March 31 3. Using UFO, calculate ending inventory and cost of goods sold at March 31 4. Using weighted average cost, calculate ending inventory and cost of cjoods sold at March 31 5. Calculate sales revenue and gross profit under each of the four methods. 6. Companing FFO and LFO, which one prowides the more meaningful measure of ending irventory? 7. If Greg's Bicycle Shop chooses to repot inventory using UFO instead of FFO, record the LIFO adjustrient. Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. 2. Using FFO, calculate ending inventory and cost of goods sold at March 31. 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. 5. Calculate sales revenue and gross profit under each of the four methods 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Greg's Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment. (x) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. 2. Using FIFO, calculate ending inventory and cost of goods sold at March 31 3. Using UIFO, calculate ending inventory and cost of goods sold at March 31 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Greg's Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Using FIFO, calculate ending inventory and cost of goods sold at March 31. Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. 2. Using FIFO, calculate ending inventory and cost of goods sold at March 31. 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Greg's Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment. (8 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Using LIFO, calculate ending inventory and cost of goods sold at March 31 . Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. (Round your intermediate calculatlons to 4 decimalplaces and final answers to 2 decimal places.) calculatlons to 4 decimal places and final answers to 2 decimal places.) Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. 2. Using FFO, calculate ending inventory and cost of goods sold at March 31. 3. Using UFO, calculate ending inventory and cost of goods sold at March 31 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Greg's Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment. * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average unit cost amounts to 4. dedmal places.) Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method 2. Using FFO, calculate ending inventory and cost of goods sold at March 31 3. Using UFO, calculate ending imventory and cost of goods sold at March 31 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LFO, which one provides the more meaningful measure of ending inventory? 7. If Greg's Bicycle Shop chooses to report irventory using LIFO instead of FIFO. record the LIFO adjustment Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Comparing FIFO and UFO, which one provides the more meaningful medsure of ending inventory? Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. 2. Using FFO, calculate ending inventory and cost of goods sold at March 31. 3. Using LFO, calculate ending inventory and cost of goods sold at March 31. 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31 5. Calculate sales revenue and gross profit under each of the four methods: 6. Comparing FFO and LFO, which one provides the more meaningful measure of ending inventory? 7. If Greg's Bicycle Shop chooses to report inventory using LIFO instead of FFO, record the LIFO adjustment * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. If Greg's Bicycle shop chooses to report inventory using LIFO instead of FIFO, record the LFO adjustment. (If no entry is roquired for a transaction/event, select "No Journal entry Required" in the fitat account field.)

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