Monte Vista uses the perpetual inventory system. At the beginning of the quarter, Monte Vista has $36,000 in inventory. During the quarter the company purchases $8,800 of new inventory from a vendor, returned $1,300 of inventory to the vendor, and took advantage of discounts from the vendor of $260. At the end of the quarter the balance in inventory is $29,500. What is the cost of goods sold?

$15,300

$6,500

$15,800

$13,740