Using the City Bicycle example, suppose the cycling store uses the specific identification system, and uses serial numbers or product bar codes to identify bi-level touring bicycle 2 as the unit sold. The cost of goods sold is _____, and the ending inventory is _____
a. $2,900; $5,500
b. $2,500; $5,900
c. $3,000; $5,400
d. $2,800; $5,600
e. cannot be determined with the information given
A
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