Question: Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following Jan 1 Beginning inventory 2,000 units @ $ 5.70 Jan

Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following Jan 1 Beginning inventory 2,000 units @ $ 5.70 Jan 12 Purchase 2,100 units @ $ 5.50 Jan 18 Sales 2,200 units @ $ 7.20 Jan 21 Purchase 2,000 units @ $ 5.80 Jan 25 Purchase 1,800 units @ $ 5.60 Jan 31 Sales 2,150 units @ $ 7.20 Assuming Chase uses a FIFO cost flow method, the cost of goods sold for the sales transaction on January 31 is:

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