Petes Tennis Shop has the following transactions related to its top-selling Wilson tennis racket for the month of August. Petes Tennis Shop uses a periodic inventory system

a) Calculate ending inventory and cost of goods sold at August 31, using the specific identification method.

b) Using FIFO, calculate ending inventory and cost of goods sold at August 31.

c) Using LIFO, calculate ending inventory and cost of goods sold at August 31.

d) Using weighted-average cost, calculate ending inventory and cost of goods sold at August 31.

e) Calculate sales revenue and gross profit under each of the four methods.

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 Cost per Unit Date August 1 August 4 August 11 August 13 August 20 August 26 August 29 Transactions Units Total Cost Beginning inventory Sale ($160 each) Purchase Sale ($175 each) Purchase Sale ($185 each) Purchase $147 1,176 37 1370 1,270 .287 $ 5.103 10 8 10 127 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 trom the August 20 purchase. Required Calculate ending inventory and cost of goods sold at August 31, using the specific identification method. Ending inventory Cost of goods sold Using FIFo, calculate ending inventory and cost of goods sold at August 31 Ending inventory Cost of goods sold Using LIFO, calculate ending inventory and cost of goods sold at August 31 Ending inventory Cost of goods sold 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 Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average cost amounts to 2 decimal places.) Weighte average cost cific LIFO Identification FIFO Sales revenue Gross profit