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

Jan 1	Beginning inventory	300	units	@	$	2.30
Jan 12	Purchase	400	units	@	$	2.10
Jan 18	Sales	500	units	@	$	3.80
Jan 21	Purchase	300	units	@	$	2.40
Jan 25	Purchase	100	units	@	$	2.20
Jan 31	Sales	450	units	@	$	3.80

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

Multiple Choice

$1,020.

$1,005.

$1,045.

$340.