At the beginning of year 2, Benson company had a beginning Inventory of 150 units that cost $200 each. During year 2, Benson made two inventory purchases. Purchase 1 consisted of 500 units at a cost of $210. The second purchase consisted of 350 units that cost $220 each. Assuming Benson used FIFO and sells 700 units of inventory during year 2, what would the cost of goods sold be? Show your work and explain.