ADED) Saved Ho equired information moblem 6-2B Calculate ending inventory, cost of goods sold, sales...
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ADED) Saved Ho equired information moblem 6-2B Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four ventory methods (L06-3, 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. Units Unit Cost $157 Total Cost 1,256 B $ Date August 1 August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning inventory Sale ($210 each) Purchase Sale ($225 each) Purchase Sale ($235 each) Purchase 147 1,470 5 10 8 10 11 11 137 1,370 127 1,397 5,493 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. Problem 6-2B Part 5 5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted average cost amounts to 2 decimal places.) Specific Identification FIFO LIFO Weighted average cost Sales revenue Gross profit
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