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Required information [ The following information applies to the questions displayed below. ] Pete's Tennis Shop has the following transactions related to its top -
Required information
The following information applies to the questions displayed below.
Pete's Tennis Shop has the following transactions related to its topselling Wilson tennis racket for the month of August. Pete's Tennis Shop uses a periodic inventory system.
tableDateTransactions,Units,Unit Cost,Total Cost,August tableBeginninginventory$$August Sale eachAugust Purchase,August Sale eachAugust Purchase,August Sale eachAugust Purchase,$
For the specific identification method, the August sale consists of rackets from beginning inventory, the August sale consists of rackets from the August purchase, and the August sale consists of one racket from beginning inventory and rackets from the August purchase.
Using FIFO, calculate ending inventory and cost of goods sold at August
tableEnding inventory,Cost of goods sold,
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