3.13 LO5 Spratley Ltd is a builders’ merchant. On 1 September the business had 20 tonnes of sand in stock at a cost of $18 per tonne, a total cost of $360. During the first week in September the business purchased the following amounts of sand:

September Tonnes Cost per tonne 2 48 $20 4 15 $24 6 10 $25 On 7 September the business sold 60 tonnes of sand to a local builder.

Calculate:

(a) The cost of goods sold based on perpetual inventory and FIFO cost allocation.