Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following information: Jan 1 Jan 12 Jan 18 Jan 21 Jan 25 Jan 31 Beginning inventory Purchase Sales Purchase Purchase Sales 1,6ee units @ $4.90 1, zee units @ $4.70 1,8ee units @ $6,40 1,6ee units @ $5.ee 1,400 units $4.80 1,750 units @ $6.40 Assuming Chase uses a FIFO cost flow method, what is the cost of goods sold for the sales transaction on January 31? Multiple Choice $8.545 $8,300 $8,845