using FIFO

Required Information The following information applies to the questions displayed below Pete's Tennis Shop has the following transactions related to its top-se o Wilson tennis racket for the month of August. Pete's Tennis Shop uses a periodic Inventory system Unit 1 Coet tot 1155 3 1,240 bat TY be At 1 Lovatory Note 800 August Purchase M Ht1 | P anh ) August 20 Male 6225 ) et 29 Purchison 5 10 145 3.60 335 1,35 11 10 1.250 3,290 For the specific identification method, the August 4 sale consists of rackets from beginning inventory, the Auguse sale consists of rockets from the August 11 purchase, and the August 26 sale consists of one racket from beginning invertory and 10 rackets from the August 20 purchase 2. Using calculate ending inventory and cost of goods sold at August 31 Entrahentory Cot of goods Book 0 GOD 13 ** ** 11 8 A 7 2 $ 4 3 % 5 & 7 6 co ON