Pharoah Company has the following inventory data: July 1
Beginning inventory 150 units at $19 $2850 7 Purchases 525 units at
$20 10500 22 Purchases 75 units at $22 1650 $15000 A physical count
of merchandise inventory on July 30 reveals that there are 250
units on hand. Using the LIFO inventory method, the amount
allocated to cost of goods sold for July is $4850. $5150. $9850.
$10150.
Windsor has the following inventory data:
Nov. 1 |
|
Inventory |
|
26 units @ $5.20 each |
8 |
|
Purchase |
|
103 units @ $5.55 each |
17 |
|
Purchase |
|
52 units @ $5.40 each |
25 |
|
Purchase |
|
77 units @ $5.70 each |
A physical count of merchandise inventory on November 30 reveals
that there are 86 units on hand. Cost of goods sold under FIFO
is