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5 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
5 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. Part 5 of Unit Cost $147 Total Cost $ 1,176 Date August 1 August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning Snventory Sale ($160 each) Purchase Sale ($175 each) Purchase Sale ($185 each) Purchase Units 8 5 10 8 10 11 11 137 1,370 10 points 127 1,270 117 1,287 5,103 eBook 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. References 5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted average cost amounts to 2 decimal places.) Specific Identification FIFO LIFO Weighted average cost Sales revenue Gross profit
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