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

January 1	Beginning inventory	500 units @ $2.70
January 12	Purchase	600 units @ $2.50
January 18	Sales	700 units @ $4.20
January 21	Purchase	500 units @ $2.80
January 25	Purchase	300 units @ $2.60
January 31	Sales	650 units @ $4.20

Assuming Chase uses a FIFO cost flow method, what is the ending inventory on January 31?

Multiple Choice

$910

$945

$1,480

$1,700