Vargas Company uses the perpetual inventory method. Vargas purchased 1,500 units of inventory that cost $16.00 each. At a later date the company purchased an additional 1,900 units of inventory that cost $17.00 each. Vargas sold 1,600 units of inventory for $20.00. If Vargas uses a FIFO cost flow method, the amount of cost of goods sold appearing on the income statement will be: Multiple Choice $4,800. $24,000. $6,300. $25,700.