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.] 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 Unit Cost $158 8 $ 1,264 Date August 1 August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning inventory Sale $215 each) Purchase Sale $230 each) Purchase Sale ($240 each) Purchase 148 1,480 5 19 8 10 11 10 138 1,380 128 1,280 5,404 $ 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 2 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31. Ending inventory Cost of goods sold