From the following data, find out the cost of goods sold, closing inventory and profit under FIFO method of inventory valuation:

1 st January, 2009 Inventory 1,000 units @ Rs. 4 each 31st January, Purchases 1,100 units @ Rs. 5 each 28th February Purchases 1,300 units @ Rs. 6 each 31st March, 2009 Purchases 1,400 units @ Rs. 7 each Sales for the period, 4,000 units @ Rs. 10 each.

[Ans.: Cost of good sold: Rs. 21, 500; Closing inventory: Rs. 5,600; Profit: Rs. 18,500]