PLEASE EXPLAIN THE SPECIFIC IDENTIFICATION ONLY IN DETAILS HOW YOU GET THOSE NUMBERS AND WHY

P7-2 (Algo) Analyzing the Effects of Four Alternative Inventory Methods L07-2 KIrtland Corporation uses a perlodic Inventory system. At the end of the annual accounting perlod, December 31 , the accounting ecords for the most popular Item In Inventory showed the following: . Compute the amount of goods avallable for sale. b. \& c. Compute the amount of ending Inventory and cost of goods sold at December 31, under Average cost, First-In, first-out, Lastfirst-out and Specific Identlfication Inventory costing methods. For Specific Identification, assume that the first sale was selected two ifths from the beginning Inventory and three-fifths from the purchase of January 30 . Assume that the second sale was selected frol the remainder of the beginning Inventory, with the balance from the purchase of May 1. Complete this question by entering your answers in the tabs below. Compute the amount of ending inventory and cost of goods sold at December 31 under Average cost, First-in, first-out, Lastin, first-out, Specific identification of the inventory costing methods. For Specific identification, assume that the first sale was selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30 . Assume that the second sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount