Expired Membership Renewal Payment w/ Multiple Periods renews incorrectly with pending payment

I've got what seems like a membership renewal bug with latest Civi (5.29.1) / Drupal 8.

Repro:

Have a member whose membership expired last year
Choose to administratively "renew" them for 2 periods (using the optional period entry in the renewal form)
Make the payment "Pending" and save. The fees are calculated correctly and the contribution is created as Pending.
Go to the payment and "Receive payment"
The membership only rolls forward one period when the contribution is finally completed.

Alternatively, if I make the payment "Complete" when filling out the renewal form (no pending payment), it works fine and rolls the membership forward 2 periods.

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