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Required Information Problem 6-2A Calculate ending Inventory, cost of goods sold, sales revenue, and gross profit for four Inventory methods (LO6-3, 6-4,6-5) [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 Greg's Bicycle Shop uses a periodic inventory system. Transactions Units Unit Cost Total Cost March 1 Beginning inventory 20 $195 $ 3,90 March 5 Sale (529e each) 15 March 9 Purchase 10 215 March 17 Sale ($340 each) 8 March 22 Purchase 10 2,250 March 27 Sale ($365 each) 12 March 30 Purchase 1,715 $10,015 Date 2,150 225 7 245 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 2 2. Using FIFO, calculate ending Inventory and cost of goods sold at March 31. Answer is complete but not entirely correct. S Ending inventory Cost of goods sold 2.300 7,715 5 Required Information Problem 6-2A Calculate ending Inventory, cost of goods sold, sales revenue, and gross profit for four Inventory methods (LO6-3, 6-4,6-5) [The following information applies to the questions displayed below) Greg's Bicycle Shop has the following transactions related to its top-seling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic Inventory system, Unit Cost $ 195 Total Cost $ 3,900 Units 2e 15 10 215 2,150 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Beginning inventory Sale ($290 each) Purchase Sale ($340 each) Purchase Sale ($365 each) Purchase 225 2,250 ie 12 7 245 1,715 $1e,e15 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 3 3. Using LIFO, calculate ending Inventory and cost of goods sold at March 31, Answer is complete but not entirely correct. is Ending inventory Cost of goods sold 2,150 x 7,865 $

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