Maxim Corp. has provided the following information about one of its products:

Date	Transaction	Number of Units			Cost per Unit
1/1	Beginning Inventory		200		$	140
6/5	Purchase		400		$	160
11/10	Purchase		100		$	200

During the year, Maxim sold 400 units. What is cost of goods sold using the average cost method?

$50,000.

$64,000.

$62,000.

$48,000