Required information [The following information applies to the questions displayed below.) Pete's Tennis Shop has...
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Required information [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 $143 Total Cost $ 1,144 8 Dato Augusti August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning inventory Sale ($140 each) Purchase Sale ($155 cch) Purchase Sale ($165 each) Purchase 133 1,330 5 10 8 10 11 10 123 1,230 113 1,130 4,834 $ 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.)
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