Date Units August 1 inventory 8 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. Transactions Beginning Unit Cost Total Cost $150 $ 1,200 August 4 Sale ($175 each) 5 August 11 Purchase 10 140 1,400 August 13 Sale ($190 each) 8 August 20 Purchase 10 130 1,300 August 26 August 29 Sale ($200 each) Purchase 11 12 120 1,440 5,340 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. Ending inventory Cost of goods sold