2. Using FIFO, calculate ending inventory and cost of goods sold at 3. Using LIFO, calculate ending inventory and cost of goods sold at 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at Augus 5. Calculate sales revenue and gross profit under each of the four methods. t 31 Augus August 31 Required: 1. Calculate ending inventory and cost of goods sold at August 31, using 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