The following information for Year 2 is taken from the accounts of Tuttle Company. The company uses the periodic inventory system. Inventory, December 31, Year 1 $ 10,000 Purchases 42,000 Purchase returns and allowances 800 Purchase discounts 600 Freight on goods purchased under terms FOB shipping point Freight on goods sold under terms FOB destination 1,800 1,000 Cost of goods sold 30,400 Based on this information, what is the inventory at December 31, Year 2?