ll.SubjectAccounting Pharoah Lighting had a beginning inventory of 35 units at a cost of $7 per unit on August 1. During the month, the following purchasesand sales were made.August 5August 11August 23Purchases1.2.39 units at $850 units at $945 units at $10Ending inventoryCost of goods sold$SalesPharoah uses a periodic inventory system.Determine ending inventory and cost of goods sold under: 1. FIFO and 2. LIFO.$August 2August 10August 19August 2129 unitsFIFO34 units65 units34 units$$LIFO

Name: ll.SubjectAccounting Pharoah Lighting had a beginning inventory of 35
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Description: ll.SubjectAccounting Pharoah Lighting had a beginning inventory of 35 units at a cost of $7 per unit on August 1. During the month, the following purchasesand sales were made.August 5August 11August 23Purchases1.2.39 units at $850 units at $945 units

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Pharoah Lighting had a beginning inventory of 35 units at a cost of $7 per unit on August 1. During the month, the following purchas and sales were made. Purchases August 5 August 11 August 23 39 units at $8 50 units at $9 45 units at $10 Sales August 2 August 10 August 19 August 21 29 units 34 units 65 units 34 units Pharoah uses a periodic inventory system. Determine ending inventory and cost of goods sold under: 1. FIFO and 2. LIFO.

Pharoah Lighting had a beginning inventory of 35 units at a cost of $7 per unit on August 1. During the month, the following purchas and sales were made. Purchases August 5 August 11 August 23 39 units at $8 50 units at $9 45 units at $10 Sales August 2 August 10 August 19 August 21 29 units 34 units 65 units 34 units Pharoah uses a periodic inventory system. Determine ending inventory and cost of goods sold under: 1. FIFO and 2. LIFO.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 4CP: Golden Eagle Company began operations on April 1 by selling a single product. Data on purchases and...

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