The following is information regarding inventory of Dili Ltd during September 2019. Dili Ltd uses a periodic inventory system:

Opening balance	Purchases	Sales
September 1 5 units @ $200	September 3 5 units @ $240	September 7 7 units
	September 12 3 units @ $260	September 27 5 units
	September 25 6 units @ $200

What was the value of cost of goods sold, using the FIFO assumption?

Select one:

a. $2,400.

b. $1,480.

c. $2,720.

d. $2,640.

e. None of the above answers is correct.