[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. 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. If Pete's chooses to report inventoly using LifO, record the LIFO adjustment (if no entry is required for a transaction/event, select No Journal Entry Required" in the first account field.)