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Calculate the value of the ending inventory

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Question - Pharoah Company's inventory records show the following data for the month of September:

Units

Unit Cost

Inventory,

September 1

200

$4.00

Purchases:

September 8

1,100

5.00

September 18

700

6.00

A physical inventory on September 30 shows 400 units on hand. Calculate the value of the ending inventory and cost of goods sold if the company uses average-cost inventory costing and a periodic inventory system.

Reference no: EM133163597

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