Tenace Corporation uses a periodic inventory system and has provided the following information about one of their laptop computers:

Date	Transaction	Number of Units	Cost per Unit
1/1	Beginning inventory	100	$800
5/5	Purchase	200	$900
8/10	Purchase	300	$1,000
10/15	Purchase	200	$1,050

During the year, 275 laptop computers were sold on 5/8 and 475 laptops were sold on 10/20.

What was cost of goods sold using the LIFO cost flow assumption?

$717,500

$730,000

$703,125

$725,500

None of the above