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The following information applies to the questions displayed below. Greg's Bicycle Shop has the following...

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Accounting

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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 Cost per Unit Date March1 March 5 March 9 March 17 March 22 March 27 March 30 Transactions Units Total Cost 20 $230 4,600 15 10 Beginning inventory Sale (S360 each) Purchase Sale ($410 each) Purchase Sale ($435 each) Purchase 250 260 280 2,500 2,600 2,240 $ 11,940 10 12 value: 4.00 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

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