Alison Inc., which uses the perpetual method and moving-average costing, "shows the following activity for January: Date Description Quantity Unit cost January 1 Beginning inventory 80 $15 January 5 Purchase 150 17 January 8 Sale 110 January 15 Purchase 55 20 January 20 Sale 80 January 25 Purchase 70 22 What is the cost of goods sold for the January 20 sale? 1. $1,386 2. $1,397 3. $1,440 4. $1,480 4 2 N 1 3