Required information [The following information applies to the questions displayed below.] Auto Dealers Incorporated 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 2024, Auto Dealers had three cars in inventory, as follows: Car ID Cost $ 203 48,000 207 210 48,000 51,000 During 2024, each of the three autos sold for $78,000. Additional purchases (listed in chronological order) and sales for the year were as follows: Car ID Cost Selling Price $ 211 $ 78,000 48,000 212 48,000 213 49,500 not sold. 214 51,000 215 54,000 216 55,500 217 57,000 218 57,300 219 60,000 81,000 84,000 88,500 not sold 93,000 94,500 not sold Required: 1. Calculate 2024 ending inventory and cost of goods sold assuming the company uses the specific identification. inventory method. Ending inventory Cost of goods sold Specific Identification