Carlson Auto Dealers Inc. sells a handmade automobile as its only product. Each automobile is identical; however, they can be distinguished by their unique ID number. At the beginning of 2016, Carlson had three cars in inventory, as follows: Car ID Cost 203 $ 63,000 207 63,000 210 66,000 During 2016, each of the three autos sold for $93,000. Additional purchases (listed in chronological order) and sales for the year were as follows: Car ID Cost Selling Price 211 $ 60,000 $ 93,000 212 60,000 96,000 213 61,500 not sold 214 63,000 99,000 215 66,000 103,500 216 67,500 not sold 217 69,000 108,000 218 69,300 109,500 219 72,000 not sold Required: 1. Compute 2016 ending inventory and cost of goods sold assuming the company uses the specific identification inventory method. 2. Compute ending inventory and cost of goods sold assuming FIFO and a periodic inventory system. 3. Compute ending inventory and cost of goods sold assuming LIFO and a periodic inventory system. 4. Compute ending inventory and cost of goods sold assuming the average cost method and a periodic inventory system.