Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following information: an 1 an 12 an 18 an 21 an 25 an 31 Beginning inventory Purchase Sales Purchase Purchase Sales 1500 units @ $4.70 1600 units @ $4.50 1700 units @ $6.20 1500 units @ $4.80 1300 units @ $4.60 1650 units @ $6.20 Assuming Chase uses a FIFO cost flow method, what is the cost of goods sold for the sales transaction on January 31? $8005 O $7725 $11,980 $7500 The inventory records for Radford Co. reflected the following: First purchase @ May 7 Second purchase May 17 Third purchase @ May 23 Sales @ May 31 What is the amount of cost of goods sold assuming the LIFO cost flow method? 1500 units $4.60 1700 units $4.70 1300 units $4.80 4500 units @$6.30 $19,800 $21,600 $21,130 O$20,700