A business values its inventory by the FIFO method. The transactions below occurred: April opening inventory $700$ at $190$ each; May purchases $500$ at $220$ each; June sales $400$ at $400$ each. What was the closing inventory value at the end of June?
- A$152\,000$
- B$162\,000$
- C$167\,000$
- D$176\,000$