Pete's Tennis Shop has the following transactions related to its top-seling Wilson tennis racket for the month of August Pete's Tennis Shop uses a periodic inventory system. Cost $160 Units 8 5 10 Transactions Beginning ) purchase sale ) Purchase ($250 each ) Purchase Date August 1 August August 13 August 20 August 26 August 29 Total 61,280 1,500 150 1401,400 10 11 130 (1, 430)/(55, 610) For the specific identification method, the August 4 sale consists of 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.

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 Units Total Cost $1280 Cost per Unit $160 Die kot 1 150 1.500 Transactions Beginning inventory Sale $225 each) Purchase Sale $240 each Purchase Sale ($250 each Purchase 140 at 13 Rugust 20 August 26 August 29 1.400 8 10 11 11 130 1430 $5 610 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. Required: 1. Calculate ending inventory and cost of goods sold at August 31, using the specific identification method. 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31. 3. Using LIFO, calculate ending inventory and cost of goods sold at August 31. 4. 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.) 5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted- average cost amounts to 2 decimal places.)