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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.)

  DateTransactionsUnitsCost per
Unit		Total Cost
  March 1Beginning inventory20   $160      $3,200     
  March 5Sale ($220 each)15      
  March 9Purchase10   180       1,800     
  March 17Sale ($270 each)8      
  March 22Purchase10   190       1,900     
  March 27Sale ($295 each)12      
  March 30Purchase8   210       1,680     
    
    $8,580 
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