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

Name: please answer do not image The following information relates to Pharoa
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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…

Business

Accounting

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

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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