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Pharoah Ltd. uses FIFO to cost its inventory. The following information is available for Pharoah's inventory of product # 101 : Assuming Pharoah uses the

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Pharoah Ltd. uses FIFO to cost its inventory. The following information is available for Pharoah's inventory of product \# 101 : Assuming Pharoah uses the perpetual inventory system, the second entry to account for the April 10 sale is debit Cost of Goods Sold and credit kl?thases, $336. debit Cost of Goods Sold and credit inventory, $368. debit Cost of Goods Sold and credit inventory. $336. debit Cost of Goods Sold and credit Purchases, 5368

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