# Calculate ending inventory and cost of goods sold using Specific Identification, FIFO, LIFO, and Weighted Average....

###### Question: Calculate ending inventory and cost of goods sold using Specific Identification, FIFO, LIFO, and Weighted Average.

Required information Problem 6-2B Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4, 6-5) (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 August 1 $146$ 1,168 August 4 10 Transactions Beginning inventory Sale ($155 each) Purchase Sale ($170 each) Purchase Sale ($180 each) Purchase 136 1,360 August 11 August 13 August 20 126 1,260 August 26 August 29 116 1,160 4,948$ 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.

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