View Policies Current Attempt in Progress Pharoah Company had a beginning inventory balance on July 1 of 380 units at a cost of $3.20 each. During the month, the following inventory transactions took place: Sales Date July 10 13 27 Purchases Cost per Units unit 1,380 $3.40 670 3.80 570 4.10 Date July 2 11 28 Units 260 1,020 480 Price per unit $6.20 6,20 6.40 Calculate the cost of goods available for sale and the number of units of ending inventory. $ Cost of goods available for sale Number of units of ending inventory units Ending inventory $ Cost of goods sold $ Gross profit $ e Textbook and Media List of Accounts Assume Pharoah uses FIFO perpetual. Calculate the cost of ending inventory, cost of goods sold, and gross profit. Ending inventory $ Cost of goods sold $ Gross profit $ (1) FIFO periodic Debit Credit Date Account Titles and Explanation July 10 (To record cash purchase.) July 11 (To record cash sale.) (2) FIFO perpetual Date Account Titles and Explanation Debit Credit July 10 (To record cash purchase.) July 11 (To record cash purchase.) July 11 (To record cash sales.) July 11 (To record cost of goods sold.) e Textbook and Media List of Accounts Submit Answer Attempts: 0 of 3 used Save for Later