Question

Pharoah Company has the following inventory data: July 1 Beginning inventory 150 units at $19 $2850...

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

$939.
$468.
$958.
$488.

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