Tuco, which uses the periodic method and FIFO costing, makes the following purchases during the year. March: 700 widgets at $7 each June: 900 widgets at $8 each September: 200 widgets at $9 each Beginning Inventory had 400 widgets at $6 each. If a year-end physical count shows 400 widgets on hand, TuCo's balance sheet will report inventory of: $2,800 O $3,089 O $3,400 $3,489