Vargas Company uses the perpetual inventory method. Vargas purchased 1,300 units of inventory that cost $14.00 each. At a later date the company purchased an additional 1,700 units of inventory that cost $15.00 each. Vargas sold 1,400 units of inventory for $18.00. If Vargas uses a FIFO cost flow method, the amount of cost of goods sold appearing on the income statement will be: 4

Vargas Company uses the perpetual inventory method. Vargas purchased 1,300 unts of inventory that cost $14.00 each. At a later date the company purchased an additional 1,700 units of inventory that cost $15.00 each Vargas sold 1,400 units of inventory for $18.00 if Varpas ises a FIFO cost flow method, the amount of cost of goods sold appearing on the income statement will be