hapter 6 Homework (Algo) i inventory methods (L06-3, 6-4, 6-5) (The following information applies to the questions displayed below.) art 1 of 7 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 Total cost 25 August 1 August 4 August 11 August 13 August 20 August 26 August 29 transactions Beginning inventory Sale (5205 each) Purchase Sale $220 each) Purchase Sale ($230 each) Purchase 02:24:54) 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. Print References Problem 6-2B Part 1 Required: 1. Calculate ending Inventory and cost of goods sold at August 31, using the specific identification method IT Ending inventory Cost of goods sold inventory methods (L06-3, 6-4, 6-5) [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. Units Date August 1 Unit Cost $156 Total Cost $ 1,248 Transactions Beginning inventory Sale ($205 each) Purchase Sale ($220 each) Purchase Sale ($230 each) Purchase August 4 August 11 August 13 August 20 August 26 August 29 1,460 1,360 1,512 5,580 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. Problem 6-2B Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31. Ending inventory Cost of goods sold Problem 6-2B Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4, 6-5) 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. Transactions Units Unit Cost $156 Beginning Total Cost 1,248 August 1 $ 146 1,460 August 4 August 11 August 13 August 20 August 26 August 29 inventory Sale ($205 each) Purchase Sale ($220 each) Purchase Sale ($230 each) Purchase NEDE 1,360 1.512 5.580 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. Problem 6-2B Part 3 3. Using LIFO, calculate ending inventory and cost of goods sold at August 31. Ending inventory Cost of goods sold Problem 6-2B Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (L06-3, 6-4, 6-5) The following information applies to the questions displayed below.] +4 of 7 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 Units Unit Cost $156 Total Cost 1,248 $ 02:23:43 Transactions Beginning inventory Sale ($205 each) Purchase Sale $220 each) Purchase Sale ($230 each) Purchase August 4 August 11 August 13 August 20 August 26 August 29 1,460 1,360 -Book Print 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. rences Problem 6-2B Part 4 4. Using weighted average cost, calculate ending Inventory and cost of goods sold at August 31. (Round your intermediate and final answers to 2 decimal places.) Ending inventory Cost of goods sold ter o Homework (Algo) O Saved of 7 inventory metnoas (LU6-3, 6-4, 6-5) (The following information applies to the questions displayed below.) Pete's Tennis Shop has the following transactions related to its top-seling Wilson tennis racket for the month of August Pete's Tennis Shop uses a periodic inventory system. Date Transactions Units Unit Cost Total cost August 1 Beginning Inventory $156 $ 1,248 August 4 Sale $205 each) August 11Purchase 1.460 August 13 Sale $220 each) August 20Purchase 1.360 August 26 Sale ($230 each) August 29 Purchase 1,512 5,580 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. Problem 6-2B Part 5 5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted average cost amounts to 2 decimal places.) Specife Identification FFO UFO Weighted average cost Sales revenue Gross profit pter 6 Homework (Algo) Help 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. 7 of 7 Units Unit Cost $156 Total Cost 1,248 $ Transactions August 1 Beginning inventory August 4 Sale ($205 each) August 11 Purchase August 13Sale ($220 each) August 20 Purchase August 26 Sale ($230 each) August 29 Purchase 1,460 1.360 02:22:45 1.512 5.580 Book 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. rences Problem 6-2B Part 7 7. If Pete's chooses to report inventory using LIFO, record the LIFO adjustment. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet