2. Using FIFO, calculate ending inventory and cost of goods sold at August 31

3. Using LIFO,calculate ending inventory and cost of goods sold at August 31

4. Using weighted-average cost, calculate ending inventory and cost of goods sold at August 31.

5.Calculate sales revenue and gross profit under each of the four methods.

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 Units Unit Cost $151 Total Cost $ 1, 208 8 Transactions Beginning inventory Sale $180 each) Purchase Sale $195 each) Purchase Sale $205 each) Purchase 141 August 1 August 4 August 11 August 13 August 20 August 26 August 29 1,410 5 10 8 10 11 11 131 1,310 121 1,331 5,259 $ 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. 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 Units Unit Cost $151 Total Cost $ 1, 208 8 Transactions Beginning inventory Sale $180 each) Purchase Sale $195 each) Purchase Sale $205 each) Purchase 141 August 1 August 4 August 11 August 13 August 20 August 26 August 29 1,410 5 10 8 10 11 11 131 1,310 121 1,331 5,259 $ 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