Stadium Trading is a retailer of sports equipment. The business values its closing inventory using the First-In-First-Out method under the period inventory system. The following transactions took place in October 2019: The inventory records of Stadium Trading on 30 September 2019 showed that the business had 400 units of goods at $240 each. Calculate its closing inventory as at 31 October 2019. $98,700$98,300$101,000$88,800