A company just starting business made the following inventory transactions in August:
|Purchase on August 1||300 units||$1,560|
|Sale on August 8||200 units||3,400|
|Purchase on August 12||400 units||1,340|
|Sale on August 24||350 units||5,950|
Using the LIFO inventory method, how much is cost of goods sold for August using a perpetual inventory system?
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