Kite Company uses the perpetual inventory method. On January 1, 2017, Kite purchased 300 units of inventory that cost $2.00 each. On January 10, 2017, the company purchased an additional 500 units of inventory that cost $3.00 each. If Kite uses a weighted average cost flow method and sells 400 units of inventory, the amount of cost of goods sold appearing on the income statement will be:

$800.

$1,000.

$1,050.

$1,200.