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The management of Pharoah Company asks your help in determining the comparative effects of the FIFO and Lif O inventory cost flow methodk. For 2022,

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The management of Pharoah Company asks your help in determining the comparative effects of the FIFO and Lif O inventory cost flow methodk. For 2022, the accounting records show these data. Units purchased consisted of 35,000 units at $3,20 on May 10;63,000 units at $3,40 on August 15; and 25,000 units at $3.70 on November 20 , income taves are 26% (a) Frepare comparative condensed income statements for 2022 under FIFO and LIFO. (Round answers to Odecimal places, eg.5,125) 3.47/5 Question 2 of 2

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