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. Date Transactions Units August 1 Beginning inventory 8 Unit Cost $159 $ Total Cost 1,272 August 4 Sale ($220 each) 5 August 11 Purchase 10 149 1,490 August 13 Sale ($235 each) 8 August 201 Purchase 10 139 1,390 August 26, August 29 Sale ($245 each) Purchase: 11 12 129 1,548 5,700 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 3 3. Using LIFO, calculate ending inventory and cost of goods sold at August 31. Ending inventory Cost of goods sold