Darlington Company entered into the following business events during its first month of operations. The company uses the perpetual inventory system. 1) The company purchased $13,700 of merchandise on account under Terms 3/10, 1/30 2) The company returned $3200 of merchandise to the supplier before payment was made 3) Theaty was within the discount period 4) All of the merchandi s e was for 521,400 cash What is the net cashowrom onering activities as a result of the fourtantinctions? 7700 Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following information: Wan 1 Beginning inventory 100 units @ $2.50 Jan 12 Purchase 500 units a $2.30 Jan 18 Sales 500 units @ $4.00 Jan 21 Purchase 100 units @ $2.00 Jan 25 Purchase 200 units @ $2.40 Wan 31 Bales 550 units @ $4.00 Assuming Chase uses a LIFO cost flow method, what is the amount of cost of goods sold for the sales transaction on January 187 $1500 $1400 $1380 $1460