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 i August 4 Augustil August13 August20 August 26 August 29 Unit Transactions Units Cost Total Cost Beginning 8 $150 $ 1,200 inventory Sale ($175 each) Purchase 10 140 1,400 Sale ($190 each) Purchase 130 1,300 Sale ($200 each) Purchase 120 1,440 $ 5,340 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