Question

Question 10 Pharoah Company was formed in 2016 and maintains its books and records on calendar-year basis. The following information is available from Pharoah’s inventory records for Zhao’s only product, the XL5500. Units Unit Cost January 1, 2017 (beginning inventory) 1,100 $82.00 Purchases January 8, 2017 450 83.00 January 23, 2017 1,150 84.00 February 9, 2017 400 87.00 February 25, 2017 750 89.00 A physical inventory on February 28, 2017, shows 1,200 units on hand. Prepare schedule to compute the ending inventory at February 28, 2017, under FIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,272.) PHAROAH Company COMPUTATION OF INVENTORY FOR PRODUCT XL5500 UNDER FIFO INVENTORY METHOD Units Unit Cost Total Cost $ $ $ LINK TO TEXT Prepare schedule to compute the ending inventory at February 28, 2017, under LIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,272.) PHAROAH Company COMPUTATION OF INVENTORY FOR PRODUCT XL5500 UNDER LIFO INVENTORY METHOD Units Unit Cost Total Cost $ $ $ LINK TO TEXT Calculate weighted average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average-cost per unit $ LINK TO TEXT Compute the ending inventory at February 28, 2017, under weighted-average inventory method. (Round answer to 0 decimal places, e.g. 2,760.) Weighted-Average Ending Inventory at February 28, 2017 $

Answer 1