At 31 December Year 1, James White and Co carried out its annual physical inventories check, counting 25 CD players, each of which had cost

pound100.

During Year 2, further purchases were made as follows:

Month	CD players purchased	Unit price pound
March	5	100
May	10	110
June	8	115
September	6	120
November	2	125

Annual sales totalled 52 CD players, at total sales revenue of

pound9,350.

Dates of sale are not recorded.

If the First In First Out (FIFO) method of inventories valuation is used, what is the amount of closing inventories?

A.

pound490

B.

pound500

C.

pound400

D.

pound480