Pete's Tennis Shop uses a periodic inventory system. Date Unit Cont $160 Total cost $1,280 150 1,500 August August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning inventory Sale ($225 each) Purchase Sal (240 each) Purchase Sale ($250 each) Purchase Units 8 5 10 B 10 11 11 140 1,400 130 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 Cont of goods sold Pete's Tennis Shop uses a periodic Inventory system, Unit cost $160 Total Cost $1,280 150 1,500 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 ($250 each) Purchase Units B 5 10 8 10 11 12 140 1,400 130 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. 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31 Ending inventory Cost of goods sold Unit Cost $160 Total Cost $1,280 OU GO 150 Date August 1 August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning inventory Sale ($225 cach ) Purchase sal ($240 each) Purchase Sale ($250 each) Purchase Units 8 5 10 8 10 11 11 1,500 140 1.400 130 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. 3. Using LIFO, calculate ending inventory and cost of goods sold at August 31, Ending inventory Cost of goods sold Unit Cost $160 Total cost $1,280 150 Date August 1 August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning inventory Sale (5225 each) Purchase Sale ($240 each Purchase Sale ($250 each) Purchase 1,500 Units 8 5 10 8 10 11 11 140 1,400 130 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. 4. Using weighted average cost, calculate ending inventory and cost of goods sold at August 31. (Round your intermediate and final answers to 2 decimal places.) Ending inventory Cost of goods sold