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 Beginning Date August 1 Units Unit Cost Total Cost 8 $145 $ 1,160 inventory August 4. Sale ($150 each) 5 August 11 Purchase 10 135 1,350 August 13: Sale ($165 each) 8 August 20 Purchase 10 125 1,250 August 26 August 29 Sale ($175 each) Purchase 11 12 115 1,380 $ 5,140 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