Vinubhai The following information relates to Pharoah Kitchen Ltd.'s inventory transactions during the month ofMarch.Mar. 1 Beginning inventory71216182729SalePurchasePurchaseSalePurchaseSaleUnits8,1005,4003,3751,0803,3755,4004,725Cost/UnitAmount$18.00 $145,800All of the units sold were priced at $65 per unit.$19.80 $66,825$19.80 $21,384$25.00 $135,000 Pharoah Kitchen Ltd. uses the perpetual inventory system.Calculate Pharoah Kitchen's cost of goods sold, gross margin, and ending inventory for the monthof March using weighted-average. (Round calculations for cost per unit to 2 decimal places, e.g. 10.52and final answers to O decimal places, e.g. 61,052.)Cost of goods soldGross marginEnding inventory$GA

Name: Vinubhai The following information relates to Pharoah Kitchen Ltd.'s i
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Description: Vinubhai The following information relates to Pharoah Kitchen Ltd.'s inventory transactions during the month ofMarch.Mar. 1 Beginning inventory71216182729SalePurchasePurchaseSalePurchaseSaleUnits8,1005,4003,3751,0803,3755,4004,725Cost/UnitAmount$18.0

Under the weighted average model, the cost of the goods that are available for sale divided by the…

Business

Accounting

The following information relates to Pharoah Kitchen Ltd.'s inventory transactions during the month of March. Units Mar. 1 Beginning inventory 8,100 Sale 5,400 3,375 1,080 3,375 5,400 4,725 7 12 16 18 27 29 Purchase Purchase Sale Purchase Sale Cost/Unit Amount $18.00 $145,800 All of the units sold were priced at $65 per unit. $19.80 $66,825 $19.80 $21,384 $25.00 $135,000

The following information relates to Pharoah Kitchen Ltd.'s inventory transactions during the month of March. Units Mar. 1 Beginning inventory 8,100 Sale 5,400 3,375 1,080 3,375 5,400 4,725 7 12 16 18 27 29 Purchase Purchase Sale Purchase Sale Cost/Unit Amount $18.00 $145,800 All of the units sold were priced at $65 per unit. $19.80 $66,825 $19.80 $21,384 $25.00 $135,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...

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