Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December 31, 2015, the accounting records for the most popular item in inventory showed the following:

Transactions

Units

Unit Cost

Beginning inventory, January 1, 2015

400

$3.00

Transactions during 2015:

a.

Purchase, January 30

300

3.40

b.

Purchase, May 1

460

4.00

c.

Sale ($5 each)

(160)

d.

Sale ($5 each)

(700)

Required:
a.	Compute the dollar amount of goods available for sale.