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 Units Unit Cost Total Cost $ 1,200 8 $150 Transactions Beginning inventory Sale ($175 each) Purchase Sale ($190 each) Purchase Sale ($200 each) Purchase 140 August 1 August 4 August 11 August 13 August 20 August 26 August 29 1,400 5 10 8 10 11 12 130 1,300 120 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. Required: 1. Calculate ending inventory and cost of goods sold at August 31, using the specific identification method. $ 16 Ending inventory Cost of goods sold