Raw material purchased: 1st January, 600 units @ Rs. 12 per unit 12th January, 500 units @ Rs. 14 per unit 21st January, 300 units @ Rs. 13 per unit Raw material issued for manufacture: 3rd January 300 units 5th January 124 units 15th January 250 units 16th January 300 units Raw material returned to stores from manufacturing department on 14th January, 50 units. The material is issued on First-in-First out method. The value of material remaining in store on 21st January will be:

Answer: Option C