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Pharoah Marine Products began the year with 10 units of marine floats at a cost of $15.40 each. During the year, it made the following

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Pharoah Marine Products began the year with 10 units of marine floats at a cost of $15.40 each. During the year, it made the following purchases: May 5,30 units at $22.60; July 16,15 units at $27.80; and December 7,20 units at $34.00. Assuming there are 25 units on hand at the end of the period, determine the cost of goods sold under (a) FIFO, (b) LIFO, and (c) average-cost. Pharoah uses the periodic approach. (For colculation purposes, round average cost per unit to 2 decimal places, es. 5.27 and final answers to 0 decimal places; es 52

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