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Question - Pharoah Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available.
Units
Unit Cost
Total Cost
April 1 inventory
260
$29
$7,540
April 15 purchase
360
35
12,600
April 23 purchase
380
38
14,440
1,000
$34,580
Compute the April 30 inventory and the April cost of goods sold using the FIFO method.
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