In December, Lori's Car Haven purchased the followina items: On December 22, the 2019 Honda and the 2022 Grey Toyota were sold for $24.000 and $42,000 respectively. Required: a. Identify which Inventory costing model should be used in this situation and explain why? (2 Marks) b. Using your choice in part (a), calculate ending inventory and cost of goods sold. (6 Marks) c. Prepare the journal entry to record the December 22 cash sale transactions. (4 Marks) In December, Lori's Car Haven purchased the followina items: On December 22, the 2019 Honda and the 2022 Grey Toyota were sold for $24.000 and $42,000 respectively. Required: a. Identify which Inventory costing model should be used in this situation and explain why? (2 Marks) b. Using your choice in part (a), calculate ending inventory and cost of goods sold. (6 Marks) c. Prepare the journal entry to record the December 22 cash sale transactions. (4 Marks)