Chase Company uses the perpetual inventory method. The inven…
Chase Company uses the perpetual inventory method. The inventory records for Chase reflected the following information: January 1Beginning inventory1,300 units @ $4.30January 12Purchase1,400 units @ $4.10January 18Sales1,500 units @ $5.80January 21Purchase1,300 units @ $4.40January 25Purchase1,100 units @ $4.20January 31Sales1,450 units @ $5.80 Assuming Chase uses a FIFO cost flow method, what is the cost of goods sold for the sales transaction on January 31?