Required information [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 August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning inventory Sale ($225 each) Purchase Sale ($240 each) Purchase Sale (5250 each) Purchase Units Unit Cost Total Cost 8 $160 $1,280 5 10 150 1,500 8 10 140 1,400 11 130 1,430 $5,610 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. Required: 1. Calculate ending inventory and cost of goods sold at August 31, using the specific identification method. Ending inventory Cost of goods sold 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31. Ending inventory Cost of goods sold 3. Using LIFO, calculate ending inventory and cost of goods sold at August 31, Ending inventory Cost of goods sold 4. Using weighted-werage cost, calculate ending Inventory and cost of goods sold at August 31. (Pound your intermediate and final answers to 2 decimal places.) Ending inventory Cost of goods sold