Anderson's Used Cars Uses the Specific Identification Formula of Costing

Anderson's Used Cars uses the specific identification formula of costing inventory.During March, Anderson purchased three cars: a Honda Civic for $6,200, a Chevy Malibu for $7,300, and a Ford Pinto $8,400, respectively.During March, two cars are sold for $8,600 each.Anderson determines that at March 31, the Ford Pinto is still on hand.What is Anderson's cost of goods sold for March?

A) $8,400
B) $13,500
C) $15,700
D) $17,200

Correct Answer:

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