Question: Problem 8-7 (Static) Various inventory costing methods [LO8-1, 8-4] [The following information applies to the questions displayed below] Carlson Auto Dealers Inc sells a handmade
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Problem 8-7 (Static) Various inventory costing methods [LO8-1, 8-4] [The following information applies to the questions displayed below] Carlson Auto Dealers Inc sells a handmade automobile as its only product Each automobile is identical; however, they can be distinauished bv their unique ID number. At the beginning of 2021, Carlson had three cars in inventory, as follows During 2021, each of the three autos sold for $90,000. Additional purchases (listed in chronological order) and sales for the year were as follows: Required: 1. Calculate 2021 ending inventory and cost of goods sold assuming the company uses the specific identification inventory method
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