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Question -
Pharoah Company was formed on December 1, 2016. The following information is available from Pharoah's inventory records for Product BAP.
Units
Unit Cost
January 1, 2017
732
$8.00
Purchases:
January 5, 2017
1,464
9.00
January 25, 2017
1,586
10.00
February 16, 2017
976
11.00
March 26, 2017
12.00
A physical inventory on March 31, 2017, shows 1,952 units on hand.
Prepare schedule to compute the ending inventory at March 31, 2017, under FIFO inventory method.
Compute the total expected dollar sales for next period and compute the number of units expected to be sold next period
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