A company just starting business made the following purchases in August:

August 1 300 units $1,560

August 12 400 units 2,340

August 24 400 units 2,520

August 30 300 units 1,980

1,400 units $8,400

A physical count of the inventory on August 31 reveals that there are 500 units on hand. Using the FIFO inventory method in a perpetual inventory system, how much is the value of the ending inventory on August 31?

A. $5,670

B. $3,240

C. $2,730

D. $5,160