TWO Crane Confectionary had 100 lbs of dark chocolate in its inventory at the start of December. The cost of those units was determined at the end of November to be $1,000 ($10 per pound). During December, Crane bought more chocolate twice, once on December 10 and again on December 20 as follows: December 10: Purchased 500 lbs at $12 per pound. December 20: Purchased 400 lbs at $15 per pound. At the end of December, a physical count of the inventory revealed that there were 200 lbs left in inventory. Assuming Crane did not eat any chocolate herself, that means that 800 lbs of chocolate were sold. Required: A. What would be the recorded Cost of Goods Sold (expense) for the 800 lbs of chocolate sold during December, assuming Crane chooses the LIFO cost flow assumption? B. Instead, suppose Crane tracked her chocolate precisely and knows that the 800 lbs consist of 100 lbs from the beginning inventory, 400 lbs from the December 20 purchase, and 300 lbs from the December 10 purchase? What would be Cost of Goods Sold in that situation (aka 'specific identification')?