Tiki Ltd had five units of the commodity Algo on hand at 1 June 2019. The following purchases and sales were made during June:

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

What was the value of cost of sales of Algo, using the FIFO assumption in a perpetual inventory system?

a.

$2,700

b.

$2,400

c.

$2,720

d.

$2,640