Part 1 of 7 Required information 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.] 6.25 points 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 8 Unit Cost $155 Total Cost $ 1,240 eBook August 4 August 11 145 1,450 Transactions Beginning inventory Sale $200 each) Purchase Sale ($215 each) Purchase Sale ($225 each) Purchase Print August 13 August 20 August 26 10 135 1,350 References August 29 1,250 5,290 $ 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 1 Required: 1. Calculate ending inventory and cost of goods sold at August 31, using the specific identification method. Ending inventory Cost of goods sold Part 5 of 7 Required information 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.) 6.25 points 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 8 Unit Cost $155 Total Cost $ 1,240 eBook Print 10145 1,450 August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning inventory Sale ($200 each) Purchase Sale $215 each) Purchase Sale ($225 each) Purchase 1,350 References 10 125 1,250 5,290 $ 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.) FIFO L IFO Weighted- average cost Sales revenue Gross profit Specific Identification r$ 5,195 r$ 1,859