The following information relates to the receipt of flour into the storeroom of a bakery and

the issue of the flour to the bakers for the month of August:

1 August opening balance 500 kg valued at 1,225

3 August issue 100 kg

4 August receipt of 250 kg at 2.50 each

10 August issue of 600 kg

What is the value of the closing inventory on Aug 10^th if the issues were valued using LIFO (to the

nearest whole )?