The 2023 inventory data for Angel Corporation is presented below. Assume that Angel uses periodic inventory tracking.
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Question:
- The 2023 inventory data for Angel Corporation is presented below.
- Assume that Angel uses periodic inventory tracking. When Angel examined what items were sold, they noted that 150 of the units are from the 2023 beginning inventory, 430 units are from the 2/1/23 purchase, and 270 units are from the 6/12/23 purchase. 1. What is Inventory on the 12/31/23 Balance Sheet if Angel uses FIFO?
- a. $3,600
- b. $4,500
- c. $22,300
Related Book For
Accounting Information Systems
ISBN: 978-1133935940
10th edition
Authors: Ulric J. Gelinas, Richard B. Dull
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