purchases Quantity price Qty xprice

purchase 1 100 $ 10 1000

Purchase 2 200 $ 11 2,200

Purchase 3 100 $ 12 1,200

Purchase 4 300 $ 14 4,200

TOTAL 700 8600

Sales

Quantity

sale 1 150 All from purchase 2

Please provide a step by step solution

Using the above information, what is the Cost of Goods Sold using the specific identification method? Assume that the inventory balance before the first purchase was zero.

Select one:

a.$1,564

b.$1,850

c.$1,450

d.$1,650