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

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Description: blackboard.american.edu%2...SavedTV ToRequired informationHelpSave & ExitThe following information applies to the questions displayed below.]Carlson Auto Dealers Inc. sells a handmade automobile as its only product. Each automobile is identical; how

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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