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 August 1 Transactions Units Unit Cost Total Cost Beginning B inventory $146 $ 1,168 August 4 Sale ($155 each) 5 August 11 Purchase 10 136 1,360 August 13 Sale ($170 each) 8 August 20 Purchase 10 126 1,260 August 26 August 29 Sale ($180 each) Purchase 11 10 116 1,160 4,948 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. 5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average cost amounts to 2 decimal places.) Answer is not complete. Specific Identification FIFO Sales revenue Cost of goods $ 4.115 3.224 sold Gross profit 891 LIFO Weighted- average cost < Prev 56 of 15 Next >