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

Jan 1	Beginning inventory	1,400	units	@	$	4.50
Jan 12	Purchase	1,500	units	@	$	4.30
Jan 18	Sales	1,600	units	@	$	6.00
Jan 21	Purchase	1,400	units	@	$	4.60
Jan 25	Purchase	1,200	units	@	$	4.40
Jan 31	Sales	1,550	units	@	$	6.00

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

Multiple Choice

• $7,205.

• $6,945.

• $10,570.

• $6,740.