Greg’s Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March 2015. Greg’s Bicycle Shop uses a periodic inventory system.
Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31, 2015. (Round your intermediate and final answers to 2 decimal places.)
|March 1||Beginning inventory||20||$160||$||3,200|
|March 5||Sale ($220 each)||15|
|March 17||Sale ($270 each)||8|
|March 27||Sale ($295 each)||12|
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