Panamerican Foods uses a periodic inventory system to account for inventory. Panamerican has a beginning inventory of 1,050 boxes of salami at $13 each on January 1. Panamerican purchases 1,300 boxes at $12 each in February and 600 boxes at $14 each in March. There were no additional purchases or sales during the remainder of the year. Panamerican sells 550 boxes during the quarter. If Panamerican uses the weighted-average method, what is its cost of goods sold for the quarter? (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.) Multiple Choice None of the other answers are correct. $7,150 $7,700 $7,019 $6,600