Kays Diamonds uses a periodic inventory system. The company had five bracelets available for sale this year, one was purchased on June 1 for $1,000, two were purchased on July 9 for $1,050 each, and two were purchased on September 23 for $1,100 each. On December 24, it sold one bracelet. Using the FIFO method, its cost of goods sold for the year ended is