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. 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31 . 3. Using LIFO, calculate ending inventory and cost of goods sold at August 31 . 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at August 31. 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and UFO, which one provides the more meaningful measure of ending inventory? 7. If Richie's chooses to report inventory using LIFO, record the LIFO adjustment. Camplete this question by entering your answers in the tabs below. Colculete ending Inventory and cost of goods sold ot August 31, using the spedfic lidentification method. Complete this question by entering your answers In the tabs below. Using FIFO, calculate ending inventory and cost of goods sold at August 31 . Complete this questlon by entering your answers In the tabs below. Using UFO, calculate ending inventory and cost of goods sold at August 31 . Complete this questlon hy entering your answers In the tabs below. Using weighted-average cost, calculste ending inventory and cost of goods sold at August 31. (Round your intermediatrin calculations to 4 decimal pleces and finel answers to 2 decimal plsces.) Complete this question by entering your answers In the tabs below. Caiculate sales revenue and gross proft under each of the four methods. (Round weighted-average intermediati to 4 decimal places and final answers to 2 decimal places.) Complete thls question by entering your answers in the tabs below. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? If Ruchle's chooses to report Imventory using Liro, recond the LIFO adjustment. (if no entry is required for a trantactlon/e Joumal Entry Required" in the first gccount field.) Note: Enter deblts before credits