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n its first month of operations, Pharoah Company made three purchases of merchandise in the...

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Accounting

n its first month of operations, Pharoah Company made three purchases of merchandise in the following sequence: (1) 380 units at $6, 2) 480 units at $8, and (3) 580 units at $9. Assuming there are 280 units on hand at the end of the period, compute the cost of the inding inventory under (a) the FIFO method and (b) the LIFO method. Pharoah uses a periodic inventory system

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