18. Acacia Company had inventory of $300,000 on December 31, 20X1. Other information is as follows: Purchases Sales Inventory 1/1/20X1 $1,500,000 1,800,000 500,000 What is the amount of Acacia's cost of goods sold for 20X1? a. $2,000,000 b. $1,600,000 c. $1,700,000 d. $1,800,000 e. None of the above