Tuco Which Uses The Periodic Method And Fifo Costing Makes The Following Purchas

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

          If a year-end physical count shows 400 widgets on hand, TuCo’s balance sheet will report inventory of:

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