Required information [The following information applies to the questions displayed below.) Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following information: Jan 1 Jan 12 1 Jan 18 Jan 21 Jan 25 Beginning Inventory Purchase Sales Purchase Purchase | Sales 300 units @ $2.30 400 units @ $2.10 580 units @ $3.80 300 units @ $2.40 180 units @ $2.20 450 units @ $3.80 Jan 31 Assuming Chase uses a FIFO cost flow method, what is the cost of goods sold for the sales transaction on January 31? Multiple Choice O $340