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Carlson Auto Dealers Inc. sells a handmade automobile as its only product. Each automobile is identical; however, they can be distingulshed by their unique ID

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Carlson Auto Dealers Inc. sells a handmade automobile as its only product. Each automobile is identical; however, they can be distingulshed by their unique ID number. At the beginning of 2018, Carlson had three cars In inventory, as follows 203 $57,000 207 210 57,000 60,000 During 2018, each of the three autos sold for $87,000. Additional purchases (listed in chronological order) and sales for the year were as follows Car ID CostSelling Price 211 $57,000 87,000 212 213 214 60,000 215 216 217 218 66,300 219 69,000 90,000 not sold 93,000 97,500 64.500not sold 102,000 103,500 not sold 58,500 63,000 66,000 Required: 1. Calculate 2018 ending inventory and cost of goods sold assuming the company uses the specific identification inventory method. 2. Calculate ending inventory and cost of goods sold assuming FIFO and a periodic inventory system. 3. Calculate ending inventory and cost of goods sold assuming LIFO and a periodic inventory system. 4. Calculate ending inventory and cost of goods sold assuming the average cost method and a periodic inventory system. Specific CFIFO Periodic LIFO Periodic Average Cost Method Periodic tificatiorn Ending inventory Cost of goods sold

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