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

Jan 1	Beginning inventory	900 units @ $3.50
Jan 12	Purchase	1000 units @ $3.30
Jan 18	Sales	1100 units @ $5.00
Jan 21	Purchase	900 units @ $3.60
Jan 25	Purchase	700 units @ $3.40
Jan 31	Sales	1050 units @ $5.00

Assuming Chase uses a FIFO cost flow method, what is the cost of goods sold for the sales transaction on January 31?