During the month of February the following receipts and issues of the component SMH/19 took place: Receipts of SMH/19 Issues of SMH/19 2 February 8 @ $10 7 February 6 9 February 9 @ $11 16 February 10 24 February 7 @ $12 27 February 6 Required Calculate the value of closing inventory of component SMH/19 using the first-in first- out method of valuation (FIFO)