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 Cost Selling Price 211 $ 57,000 $ 87,000 212 57,000 90,000 213 58,500 not sold 214 60,000 93,000 215 63,000 97,500 216 64,500 not sold 217 66,000 102,000 218 66,300 103,500 219 69,000 not sold

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.