LIFO

Required information 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. of Date Unit Cost $145 Total Cost $ 1.160 Transactions Beginning inventory Sale ($150 each) Purchase Sale ($165 each) Purchase Sale ($175 each) Purchase Units 8 5 10 8 10 11 12 135 August 1 August 4 August 11 August 13 August 20 August 26 August 29 1,350 48:26 125 1,250 Sed 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. 3. Using LIFO, calculate ending inventory and cost of goods sold at August 31 Ending inventory Cost of goods sold