Required information The following information applies to the questions displayed below Pete's Tennis Shop has the following transactions related to its top seng Wilson tennis racket for the month of August. Pete's Tennis Shop uses a periodic inventory system Transactions Uit Cost Total cost ut 1 inventar 3 1,120 Sale (s nach 1 August 11 Purch se 130 1.300 August 11 Sale (1 sach) 8 August 20 Archase 120 1,200 Laut 26 Sale (5150 sach 11 August 2) Purchase 10 110 1.100 5 Decling For the specie entication 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 Required: 1. Calculate ending inventory and cost of goods sold at August 31, using the specific identification method. 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31. 3. Using LIFO, calculate ending inventory and cost of goods sold at August 31. 4. Using weighted average cost, calculate ending inventory and cost of goods sold at August 31. (Round your intermediate and final an- swers to 2 decimal places.) 5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average cost amounts to 2 decimal places.) Screens 1 2012