please answer do not image The following information relates to Pharoah Kitchen Ltd's inventory transactions during the month of March.Mar. 1 Beginning inventory71216182729(a1)SalePurchasePurchaseSalePurchaseSaleCost of goods soldUnitsGross margin8,100Ending inventory5,400LA3,375All of the units sold were priced at $65 per unit.1,0803,3755,4004,725Cost/UnitPharoah Kitchen Ltd. uses the perpetual inventory system.$18.00$19.80$19.80AmountCalculate Pharoah Kitchen's cost of goods sold, gross margin, and ending inventory for the month of March using FIFO.$145,800$66,825$21,384$25.00 $135,000

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Description: please answer do not image The following information relates to Pharoah Kitchen Ltd's inventory transactions during the month of March.Mar. 1 Beginning inventory71216182729(a1)SalePurchasePurchaseSalePurchaseSaleCost of goods soldUnitsGross margin8,1

FIFO method is one of the methods of inventory valuation in which it is assumed that old purchases…

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The following information relates to Pharoah Kitchen Ltd.'s inventory transactions during the month of March. Mar. 1 Beginning inventory 7 12 16 18 27 29 (a1) Sale Purchase Purchase Sale Purchase Sale Cost of goods sold $ Gross margin Units Ending inventory 8,100 $ 5,400 All of the units sold were priced at $65 per unit. $ 3,375 1,080 3,375 5,400 4,725 Cost/Unit Pharoah Kitchen Ltd. uses the perpetual inventory system. $18.00 $19.80 $19.80 Calculate Pharoah Kitchen's cost of goods sold, gross margin, and ending inventory for the month of March using FIFO. Amount $145,800 $66,825 $21,384 $25.00 $135,000

The following information relates to Pharoah Kitchen Ltd.'s inventory transactions during the month of March. Mar. 1 Beginning inventory 7 12 16 18 27 29 (a1) Sale Purchase Purchase Sale Purchase Sale Cost of goods sold $ Gross margin Units Ending inventory 8,100 $ 5,400 All of the units sold were priced at $65 per unit. $ 3,375 1,080 3,375 5,400 4,725 Cost/Unit Pharoah Kitchen Ltd. uses the perpetual inventory system. $18.00 $19.80 $19.80 Calculate Pharoah Kitchen's cost of goods sold, gross margin, and ending inventory for the month of March using FIFO. Amount $145,800 $66,825 $21,384 $25.00 $135,000

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter20: Accounting For Inventory

Section: Chapter Questions

Problem 3AP

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