Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following Jan 1 Beginning inventory Jan 12 Purchase Jan 18 Sales Jan 21 Purchase Jan 25 Purchase Jan 31 Sales 500 units @ $2.70 600 units @ $2.50 700 units @ $4.20 500 units @ $2.80 300 units @ $2.60 650 units @ $4.20 Assuming Chase uses a FIFO cost flow method, the cost of goods sold for the sales transaction on January 31 is