Monte Vista uses the perpetual Inventory system. At the beginning of the quarter, Monte Vista has $31.000 in Inventory. During the quarter the company purchases $8,050 of new inventory from a vendor, returned $800 of Inventory to the vendor, and took advantage of discounts from the vendor of $210. At the end of the quarter the balance in inventory is $27,000. What is the cost of goods sold? Multiple Choice $11,040 $12.550 O $4,000 $12,050