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Pharoah Inc. uses the average cost formula in a perpetual inventory system. (Use unrounded numbers in your calculations but round to the nearest cent for
Pharoah Inc. uses the average cost formula in a perpetual inventory system. (Use unrounded numbers in your calculations but round to the nearest cent for presentation purposes in your answer.) Jun 1 Beginning inventory 26 units @ $19 per unit Jun 5 Purchase 94 units @ $22 per unit Jun 8 Sale 70 units Jun 9 Purchase 85 units @ 22.70 per unit Jun 10 Sale 25 units Jun 22 Sale 40 units The cost of goods sold for the June 10 sale is $555.00. O $547.74. 0000 $567.50. $614.00
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