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.) Date Transactions Units Cost per Unit Total Cost March 1 Beginning inventory 20 $160 $ 3,200 March 5 Sale ($220 each) 15 March 9 Purchase 10 180 1,800 March 17 Sale ($270 each) 8 March 22 Purchase 10 190 1,900 March 27 Sale ($295 each) 12 March 30 Purchase 8 210 1,680 $ 8,580
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