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Belinca Inc. is a shoe retailer. On February 1st, 2013; the company purchased 500 units of a popular new model X shoe for $20 each.

Belinca Inc. is a shoe retailer. On February 1st, 2013; the company purchased 500 units of a popular new model X shoe for $20 each. On March 3rd, the company purchased 700 units of the newly released Y model shoe for $30 each causing the selling price of the X model to drop from $70 to $60. On March 15th, Heels R Us sells 300 units of the X model. What is the cost of goods sold on the sale?

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