Please do not give solution in image format thanku Pharoah Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold.DateMay 11524ExplanationInventoryPurchasePurchaseTotalUnits3426t40100Unit Cost$91011Total Cost$306260440$1,006 Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g.125.)Ending inventory at May 31$FIFOLIFOAVERAGE-COST

Depending on the company's accounting processes and applicable rules, the final inventory value is…

Answered: Date May 1 Explanation Inventory…

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Date May 1 Explanation Inventory invento ystem. Its Units 34 Unit Cost $9 cords show Total Cost $306

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter11: Work Sheet And Adjusting Entries

Section: Chapter Questions

Problem 3E: Basga Company uses the periodic inventory system. Beginning inventory amounted to 241,072. A...

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Question

Please do not give solution in image format thanku

Pharoah Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold.
Date
May 1
15
24
Explanation
Inventory
Purchase
Purchase
Total
Units
34
26t
40
100
Unit Cost
$9
10
11
Total Cost
$306
260
440
$1,006

Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g.
125.)
Ending inventory at May 31
$
FIFO
LIFO
AVERAGE-COST

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