Vargas Company uses the perpetual inventory method. Vargas purchased 700 units of inventory that cost $8.00 each. At a later date the company purchased an additional 1,100 units of inventory that cost $9.00 each. Vargas sold 800 units of inventory for $12.00. If Vargas uses a FIFO cost flow method, the amount of cost of goods sold appearing on the income statement will be: Multiple Choice $2,400. $5,600. O $6,500. O $3,100