Monte Vista uses the perpetual inventory system. At the beginning of the quarter, Monte Vista has $44,000 in inventory. During the quarter the company purchases $10,000 of new inventory from a vendor, returned $1,350 of inventory to the vendor, and took advantage of discounts from the vendor of $340. At the end of the quarter the balance in inventory is $33,500. What is the cost of goods sold? Multiple Choice $21,000 $10,500 o oo $18,810