Kramer began operations early in 2017 and made the following purchases:

February 5 .................... 200 .................. $5

June 10 .......................... 500 ................... 6

October 4 ...................... 300 ................... 7

Kramer used the FIFO method to value its inventory and reported cost of goods sold expense for the year of $4,000.

Required

Determine the cost of goods sold expense assuming Kramer had used the LIFO method instead of the FIFO method?