You have the following information for Pharoah Inc. for the month ended October 31, 2025. Pharoah uses a periodic system for inventory. Date Oct. 1 Oct. 9 Oct. 11 Oct. 17 Oct. 22 Oct. 25 Oct. 29 Description Beginning inventory Purchase Sale Purchase Sale Purchase Sale Units Unit Cost or Selling Price $26 60 130 90 90 60 70 100 28 40 29 45 31 45

You have the following information for Pharoah Inc. for the month ended October 31, 2025. Pharoah uses a periodic system for inventory. Date Oct. 1 Oct. 9 Oct. 11 Oct. 17 Oct. 22 Oct. 25 Oct. 29 Description Beginning inventory Purchase Sale Purchase Sale Purchase Sale Units Unit Cost or Selling Price $26 60 130 90 90 60 70 100 28 40 29 45 31 45

Name: Vinubhai You have the following information for Pharoah Inc. for the m
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Description: Vinubhai You have the following information for Pharoah Inc. for the month ended October 31, 2025. Pharoah uses a periodic system forinventory.DateOct. 1Oct. 9Oct. 11Oct. 17Oct. 22Oct. 25Oct. 29(a1)DescriptionBeginning inventoryPurchaseSalePurchaseSa

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 12PB: Compare the calculations for gross margin for B76 Company, based on the results of the perpetual...

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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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Question

Vinubhai

You have the following information for Pharoah Inc. for the month ended October 31, 2025. Pharoah uses a periodic system for
inventory.
Date
Oct. 1
Oct. 9
Oct. 11
Oct. 17
Oct. 22
Oct. 25
Oct. 29
(a1)
Description
Beginning inventory
Purchase
Sale
Purchase
Sale
Purchase
Sale
Units Unit Cost or Selling Price
$26
Weighted-average cost per unit
60
130
90
90
60
70
100
28
$
40
29
45
Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.)
31
45
A

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