He Required information [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 distinguished by their unique ID number. At the beginning of 2021, Carlson had three cars in inventory, as follows: Car ID Cost $102,000 102,000 105,000 203 207 210 During 2021, each of the three autos sold for $132,000. Additional purchases (listed in chronological order) and sales for the year were as follows: TIT Car ID 211 Selling Price $132,000 135,000 Cost $102,000 102,000 103,500 105,000 108,000 106,500 111,000 108,300 114,000 212 213 not sold 138,000 142,500 not sold 147,000 148,500 not sold 214 215 216 217 218 219 2. Calculate ending inventory and cost of goods sold assuming FIFO and a periodic inventory system. FIFO Periodic Ending inventory Cost of goods sold
He Required information [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 distinguished by their unique ID number. At the beginning of 2021, Carlson had three cars in inventory, as follows: Car ID Cost $102,000 102,000 105,000 203 207 210 During 2021, each of the three autos sold for $132,000. Additional purchases (listed in chronological order) and sales for the year were as follows: TIT Car ID 211 Selling Price $132,000 135,000 Cost $102,000 102,000 103,500 105,000 108,000 106,500 111,000 108,300 114,000 212 213 not sold 138,000 142,500 not sold 147,000 148,500 not sold 214 215 216 217 218 219 2. Calculate ending inventory and cost of goods sold assuming FIFO and a periodic inventory system. FIFO Periodic Ending inventory Cost of goods sold
Chapter1: Financial Statements And Business Decisions
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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 distinguished by their unique ID number. At the beginning of 2021, Carlson had three cars in inventory, as follows:
Car ID
203
207
210
Cost
$102,000
102,000
105,000
During 2021, each of the three autos sold for $132,000. Additional purchases (listed in chronological order) and sales for
the year were as follows:
Cost
$102,000
102,000
103,500
105,000
108,000
106,500
111,000
100,300
114,000
Car ID
Selling Price
$132,000
135,000
211
212
213
214
215
216
217
218
219
not sold
138,000
142,500
not sold
147,000
149,500
not sold
2. Calculate ending inventory and cost of goods sold assuming FIFO and a periodic inventory system.
FIFO Periodic
Ending inventory
Cost of goods sold
Next >
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13
4.
of 5
Prey.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F81f3c13b-c916-4610-ab84-ceb3c5d340e8%2F39d0a4d8-04a9-4a9d-9892-1314d136c20f%2Fmw4qwqr_processed.jpeg&w=3840&q=75)
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Saved
TV To
Required information
Help
Save & Exit
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 distinguished by their unique ID number. At the beginning of 2021, Carlson had three cars in inventory, as follows:
Car ID
203
207
210
Cost
$102,000
102,000
105,000
During 2021, each of the three autos sold for $132,000. Additional purchases (listed in chronological order) and sales for
the year were as follows:
Cost
$102,000
102,000
103,500
105,000
108,000
106,500
111,000
100,300
114,000
Car ID
Selling Price
$132,000
135,000
211
212
213
214
215
216
217
218
219
not sold
138,000
142,500
not sold
147,000
149,500
not sold
2. Calculate ending inventory and cost of goods sold assuming FIFO and a periodic inventory system.
FIFO Periodic
Ending inventory
Cost of goods sold
Next >
21
13
4.
of 5
Prey.
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