The following transactions of Berain Manufacturers, that uses the perpetual inventory system, took place during February 2024 in respect of a part used in production:

Feb
01	Stock on hand	600 units @ R34 per unit
08	Issued to production	420 units
15	Purchased from supplier	1800 units @ R35.50 per unit
16	Issued to production	700 units
17	Returned to supplier (purchased on February 2024)	120 units
26	Issued to production	800 units

Using the first-in-last-in (FIFO) method, calculate the value of closing inventory as at 28 February 2024.