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Business, 12.03.2022 23:20 macnasiahamiel

Pharoah Company took a physical inventory on December 31 and determined that goods costing $546,000 were on hand. Not included in the physical count were $7,000 of goods purchased from Cullumber Corporation, f. o.b. shipping point, and $35,000 of goods sold to Ro-Ro Company for $44,000, f. o.b. destination. Both the Cullumber purchase and the Ro-Ro sale were in transit at year-end. What amount should Pharoah report as its December 31 inventory

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Pharoah Company took a physical inventory on December 31 and determined that goods costing $546,000...
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