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 Date Transactions Units Cost per Unit Total Cost August 1 Beginning inventory 8 $144 $ 1,152 August 4 Sale ($145 each) 5 August 11 Purchase 10 134 1,340 August 13 Sale ($160 each) 8 August 20 Purchase 10 124 1,240 August 26 Sale ($170 each) 11 August 29 Purchase 11 114 1,254 $ 4,986 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.

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.