Exercise 6-6 Specific identification cost flow assumption LO2 eXcel CHECK FIGURE COGS - $4,529 50 Use the information in Exercise 6-5. Assume that Car Armour specifically sold the following units Jant 1080 M 1510 120 Oct 200 470 Bombong som begungor and ore M ucha 0 chans rom October Calculate cost to be assigned to ending inventory and cost of goods sold Exercise 6-7 Income statement effects of alternative cost flow assumptions LOS Use the data in Exercises 6-5 and 66 to construct comparative income statements for Car Armour (year end De cember 31, 2020). similar to those shown in Ethibit 6.8 in the chapter. Assume that operating expenses are $1.250. 1. Which method results in the highest profit? 2. If costs were rising instead of falling, which method would result in the highest proti Exercise 6-5 Alternative cost flow assumptions-perpetual inventory system LO2 Xeel CHECK FIGURES: COGS a $5.527 55.476 Car Armour sells car wash cleaner. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2020 as follows - $ 770 .240 1 Jan Beginning inventory Jan. 10 Sold Me 7 Puch M15 Si A 20 Purchased Oot Purchaud Oct 5 Si 110 urts 80 units 300 units 130 550 500 670 units $7.00 15. 0 $6.30 $1550 10.10 600 $15.50 2015 - - - - - 3000 10