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1) Compute the ending inventory under FIFO. 2) Compute the ending inventory under LIFO. 3) Compute the ending inventory under moving-average cost. Pharoah Appliance uses
1) Compute the ending inventory under FIFO.
2) Compute the ending inventory under LIFO.
3) Compute the ending inventory under moving-average cost.
Pharoah Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $630 each. On January 10, Pharoah purchased 6 units at $670 each. The company sold 2 units on January 8 and 5 units on January 15Step by Step Solution
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