Diligent Ltd had five units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September:

Opening balance		Purchases		Sales
Sept 1	5 units @ $200	Sept 3	5 units @ $240	Sept 7	7 units
		12	3 units @ $260	27	5 units
		25	6 units @ $200

What was the value of cost of sales of Algo, using the LIFO assumption in a perpetual inventory system?

a.

$2,720

b.

$2,700

c.

$1,400

d.

$2,600