Pharoah CDs has the following inventory data: Nov. 1 8 17 25 Inventory Purchases Purchases O $1436. O $1508 O $708. O $780 Purchases 40 units @ $6.00 each 128 units @ $6.50 each 64 units @ $6.50 each 104 units @ $7.00 each A physical count of merchandise inventory on November 30 reveals that there are 112 units on hand. Cost of goods sold under LIFO is (rounded to whole dollars)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A4

Pharoah CDs has the following inventory data:
Nov. 1
8
17
25
Inventory
Purchases
Purchases
Purchases
O $1436.
O $1508
O $708.
O $780.
40 units @ $6.00 each
128 units @ $6.50 each
64 units @ $6.50 each
104 units @ $7.00 each
A physical count of merchandise inventory on November 30 reveals that there are 112 units on hand. Cost of goods sold under LIFO is
(rounded to whole dollars)
Transcribed Image Text:Pharoah CDs has the following inventory data: Nov. 1 8 17 25 Inventory Purchases Purchases Purchases O $1436. O $1508 O $708. O $780. 40 units @ $6.00 each 128 units @ $6.50 each 64 units @ $6.50 each 104 units @ $7.00 each A physical count of merchandise inventory on November 30 reveals that there are 112 units on hand. Cost of goods sold under LIFO is (rounded to whole dollars)
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