16 Required information (The following information applies to the questions displayed below.) Pete's Tennis Shop has the following transactions related to its top-selling Wilson tennis racket for the month of August. Pete's Tennis Shop uses a periodic inventory system Date Transactions Unit Unit cost Total cost Beginning August 1 $14 $ Inventory 1,184 August Sale (5165 each) 5 August 11 138 August 13 Sale (6180 each August 20 1.280 August 26 Bale (8190 each) August 29 Purchase 310 5,260 Purchase 10 1.380 Purchase 128 10 11 12 1.416 For the specific identification method, the August 4 sale consists of rackets from beginning inventory, the August 13 sale consists of rackets from the August 11 purchase, and the August 26 sale consists of one racket from beginning inventory and 10 rackets from the August 20 purchase, 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31. 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31. Ending inventory Cost of goods sold