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In its first month of operations, Pharoah Company made three purchases of merchandise in the following sequence: 200 units at $11:250 units at $10; and
In its first month of operations, Pharoah Company made three purchases of merchandise in the following sequence: 200 units at $11:250 units at $10; and 300 units at $9. There are 450 units on hand at the end of the period. Pharoah uses a periodic inventory system Calculate the cost of the ending inventory and cost of goods sold under FIFO. FIFO Ending inventory $ Cost of goods sold $ e Textbook and Media Calculate the cost of the ending inventory and cost of goods sold under weighted average (Round weighted average cost per unit to two decimals places eg. 52.75 and final answers to 0 decimal places eg. 5,275.) Weighted average Ending inventory $ Cost of goods sold A e Textbook and Media
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