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Pharoah Companyuses a perpetual inventory system and the FIFO cost formula for valuing inventory. The company is now in the process of comparing the cost
Pharoah Companyuses a perpetual inventory system and the FIFO cost formula for valuing inventory. The company is now in the process of comparing the cost of its inventory with its net realizable value. The following data are available atPharoah Company's year end, December 31:
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