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Pharoah is a distributor of fruit who uses FIFO and has the following information at...

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Accounting

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Pharoah is a distributor of fruit who uses FIFO and has the following information at December 31, 2025: The expected selling price of the fruit is 99% of its cost. The cost of delivery to customers is 2% of the selling price and Pharoah pays these costs, none of which is reimbursed by the customers. Determine ending inventory at December 31,2025, based on lower of cost of net realizable value. Ending inventory at lower of cost of net realizable value $

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