1. Classic Autos specializes in the sale of carefully used custom sports cars and uses the custom identification method to determine the final inventory and cost of goods sold.
2. Item 507K sold for $90,000. 
3. Classic bought the sports car for $51,000 and paid $1,300 for freight and $1,400 for outbound freight. 

What is the cost of goods sold?

Answer rating: 100% (QA)

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