Testbank Problem 160 (Part Level Submission) Pharoah Company was formed on December 1, 2019. The following information is available from Pharoah's inventory record for Product X. Unit Units Cost January 1, 2020 (beginning inventory) 2,200 $20 Purchases: January 5, 2020 2,700 $22 January 25, 2020 2,400 $23 February 16, 2020 1,300 $24 March 15, 2020 2,600 $25 A physical inventory on March 31, 2020, shows 3,500 units on hand. (1) Prepare schedules to compute the ending inventory at March 31, 2020, under FIFO method. Pharoah Company COMPUTATION OF INVENTORY FOR PRODUCT X UNDER FIFO INVENTORY METHOD March 15, 2020 February 16, 2020 March 31, 2020, inventory Units March 31, 2020 Unit Cost Total Cost