$7.$ The $2023$ inventory data for one of Happy Feet Company's inventory items is

presented below. Assume that Happy Feet uses periodic inventory tracking.

Beginning Inventory

$32$ units at $$120$ per unit

Purchases during the year:

Purchase $1$ on May $15,28$ units at $$122$ per unit

Purchase $2$ on December $1520$ units at $$124$ per unit

Sales during the year:

What is "Inventory" on the $12/31/23$ Balance Sheet if Happy Feet uses the FIFO

cost flow assumption?

$$4,206$

$$4,310$

$$5,530$

$$5,426$