Transcribed Image Text: MC Qu. 6-70 Monte Vista uses the perpetual Inventory… Monte Vista uses the perpetual inventory system. At the beginning of the quarter.

Transcribed Image Text: MC Qu. 6-70 Monte Vista uses the perpetual Inventory…
Monte Vista uses the perpetual inventory system. At the beginning of the quarter. Monte Vista has $31.000 in inventory, During the quarter the company purchases $8,050 of new inventory from a vendor,
returned $800 of inventory to the vendor, and took advantage of discounts from the vendor of $210. At the end of the quarter the balance in inventory is $27,000. What is the cost of goods sold?
Multiple Cholce
$1,040
$12.050
$4.000
$12.550
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