Business, 17.06.2020 04:57 cxttiemsp021

At December 31, 2020, the following information was available from Pharoah Co.'s accounting records: Cost Retail
Inventory, 1/1/20 $139000 $195000
Purchases 633000 955000
Additional markups 34000
Available for sale $772000 $1184000
Sales for the year totaled $1050000. Markdowns amounted to $9200. Under the lower-of-cost-or-market retail inventory method, Pharoah's inventory at December 31, 2020 was:.
a. $81120.
b. $93080.
c. $267800.
d. $87100.

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At December 31, 2020, the following information was available from Pharoah Co.'s accounting records:...

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