Gene's Used Cars Uses the Specific Identification Method of Costing

Multiple Choice

Gene's Used Cars uses the specific identification method of costing inventory.During March, Gene purchased three cars for $5,000, $6,500, and $8,000, respectively.During March, two cars are sold for $7,500 each.Gene determines that at March 31, the $8,000 car is still on hand.What is Gene's cost of goods sold for March?

A) $8,000
B) $11,500
C) $14,500
D) $15,000