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Pharoah Construction Company uses the percentage - of - completion method of accounting. In 2 0 2 5 , Pharoah began work under contract #E

Pharoah Construction Company uses the percentage-of-completion method of accounting. In 2025, Pharoah began work under contract #E2-D2, which provided for a contract price of $2,176,000. Other details follow:
\table[[A,2025,2026],[Costs incurred during the year,$706,640,$1,452,000
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