Same information as the previous question. Auto Resales, Inc. started business on January 1, 20X1 (beginning inventory balance is zero). On January 1, 20X1 the company purchased all of the inventory for their used car sales lot. Purchase information is Total cost of the cars purchased Number of cars purchased $1,500,000 100 Types of cars, number of cars, and sales price per car are as follows: Ford Lexus BMW Total number of lots Number purchased Sales price per car 20 $10.000 40 $20,000 40 $25,000 100 During the year, Auto Resales, Inc. sold the following cars: BMW Total number of lots 40 $20,000 40 $25,000 100 During the year, Auto Resales, Inc. sold the following cars: Ford Lexus 20 BMW Total cars sold 8 10 30 48 Ending inventory in units 52 Using the relative sales value approach, what is the total cost of goods sold for 20X1? Numeric Response