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

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

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

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

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 August 1 August 4 August 11 August 13 August 20 August 26 August 29 Purchase Transactions Beginning inventory Sale ($125 each) Purchase Sale ($140 each) Purchase Sale ($150 each) Units 8 5 10 8 10 11 10 Unit Cost $140 130 120 110 $ Total Cost 1,120 1,300 1,200 1,100 $ 4,720 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