The Acme Corporation buys 300 units of merchandise in January at $5 each.Acme buys 500 units at $4 each in February and 200 units at $6 each in March. Acme sells 300 units during this quarter.Acme uses the LIFO method.What is its cost of goods sold for the quarter?
A) $1,600
B) $1,400
C) $1,500
D) $1,800
Correct Answer:
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