Vargas Company uses the perpetual inventory system and the FIFO cost flow method. During the current year, Vargas purchased 1,300 units of inventory that cost $14 each. At a later date during the year, the company purchased an additional 1,700 units of inventory that cost $15 each. Vargas sold 1,400 units of inventory for $18. What is the amount of cost of goods sold that will appear on the current years income statement? (a) 5,500 (b) 18,200 (c) 4,200 (d) 19,700