1. The 2023 inventory data for Angel Corporation is presented below. 
2. 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? 
3. 
   
4. a. $3,600 
5. 
   
6. b. $4,500 
7. 
   
8. c. $22,300

Answer rating: 100% (QA)

To calculate the inventory on 123123 we need to know the total number of units purchased and the tot... View the full answer