Kramer began operations early in 2016 and made the following purchases

                                                                                    February 5 .........................200 $5

                                                                                    June 10................................ 500 6

                                                                                    October 4........................... 300 7

Kramer used the FIFO method to value its inventory and reported cost of goods sold expense for the year of $4,000.

Required

Determine the cost of goods sold expense assuming Kramer had used the LIFO method instead of the FIFO method.