Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following

Jan 1 Beginning inventory 300 units @ $ 2.30

Jan 12 Purchase 400 units @ $ 2.10

Jan 18 Sales 500 units @ $ 3.80

Jan 21 Purchase 300 units @ $ 2.40

Jan 25 Purchase 100 units @ $ 2.20

Jan 31 Sales 450 units @ $ 3.80

Assuming Chase uses a LIFO cost flow method, the amount of cost of goods sold for the sales transaction on January 18 is:

$1,150.

$1,050.

$1,070.

$1,130.