The Xu Corporation uses a periodic inventory system. The company has a beginning inventory of 350 units at $5 each on January 1. Xu purchases 550 units at $4 each in February and 250 units at $6 each in March. There were no additional purchases or sales during the remainder of the quarter. Xu sells 350 units during the quarter. If Xu uses the LIFO method, what is its cost of goods sold for the first quarter? (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.) Multiple Choice $1,900 $1,650 $1,800 $2,150