Pharoah Company had 140 units in beginning inventory at a total cost of $14,000. The company...
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Pharoah Company had 140 units in beginning inventory at a total cost of $14,000. The company purchased 280 units at a total cost of $44,800. At the end of the year, Pharoah had 65 units in ending inventory. (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. FIFO LIFO Average-cost The cost of the ending 6500 inventory The cost of goods sold %24 %24 %24 %24 %24 %24 Pharoah Company had 140 units in beginning inventory at a total cost of $14,000. The company purchased 280 units at a total cost of $44,800. At the end of the year, Pharoah had 65 units in ending inventory. (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. FIFO LIFO Average-cost The cost of the ending 6500 inventory The cost of goods sold %24 %24 %24 %24 %24 %24
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Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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