Please do not give solution in image format thanku 2Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023360 units @$ 74/unit275 units @$ 78/unit440 units @$154/unit225 units @$ 72/unit325 units @s 58/unit580 units @$154/unitBeginning InventoryFeb. 10 purchasedFeb. 20 soldMar. 13 purchasedSept. 5 purchasedOct. 10 soldGale Company uses a periodic inventory costing system.Required:1. Calculate the dollar value of ending inventory and cost of goods sold using: (Round your intermediate calculations and finalanswers to 2 decimal places.)a. FIFOb. Moving weighted averageEnding inventoryCost of goodssold

Name: Please do not give solution in image format thanku 2Gale Company has t
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Description: Please do not give solution in image format thanku 2Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023360 units @$ 74/unit275 units @$ 78/unit440 units @$154/unit225 units @$ 72/unit325 units @s 58/u

A proper inventory accounting system is important for every small and big organization. Reordering,…

Business

Accounting

2 Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023 Beginning Inventory Feb. 18 purchased Feb. 20 sold 360 units @s 74/unit 275 units es 78/unit 440 units $154/unit Mar. 13 purchased purchased 225 units @s 72/unit 325 units @s 58/unit 580 units @$154/unit Sept. 5 Oct. 10 sold Gale Company uses a periodic inventory costing system Required: 1. Calculate the dollar value of ending inventory and cost of goods sold using: (Round your intermediate calculations and final answers to 2 decimal places.) FIFO b. Moving weighted average Ending inventory Cost of goods sold

2 Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023 Beginning Inventory Feb. 18 purchased Feb. 20 sold 360 units @s 74/unit 275 units es 78/unit 440 units $154/unit Mar. 13 purchased purchased 225 units @s 72/unit 325 units @s 58/unit 580 units @$154/unit Sept. 5 Oct. 10 sold Gale Company uses a periodic inventory costing system Required: 1. Calculate the dollar value of ending inventory and cost of goods sold using: (Round your intermediate calculations and final answers to 2 decimal places.) FIFO b. Moving weighted average Ending inventory Cost of goods sold

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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