Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023. Beginning Inventory Feb. 10 purchased Feb. 20 sold Mar. 13 purchased Sept. 5 purchased Oct. 10 sold 380 units @ $ 295 units @$ a. FIFO b. Moving weighted average 70/unit 74/unit 150/unit 68/unit 460 units @ $ 209 units @ $ 345 units @ $54/unit 600 units @ $ 150/unit Gale Company employs a perpetual inventory 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.) Ending Inventory Cost of Goods Sold 2. Using your calculations from Part 1, complete the following schedule: (Round your intermediate calculations and final answers to 2 decimal places.)

Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023. Beginning Inventory Feb. 10 purchased Feb. 20 sold Mar. 13 purchased Sept. 5 purchased Oct. 10 sold 380 units @ $ 295 units @$ a. FIFO b. Moving weighted average 70/unit 74/unit 150/unit 68/unit 460 units @ $ 209 units @ $ 345 units @ $54/unit 600 units @ $ 150/unit Gale Company employs a perpetual inventory 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.) Ending Inventory Cost of Goods Sold 2. Using your calculations from Part 1, complete the following schedule: (Round your intermediate calculations and final answers to 2 decimal places.)

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Description: Please don't not give image format Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023.Beginning InventoryFeb. 10 purchasedFeb. 20 soldMar. 13 purchasedSept. 5 purchased10 soldOct. 10380 units @ $295

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13: Accounting For Merchandise Inventory

Section: Chapter Questions

Problem 1MP: Hurst Companys beginning inventory and purchases during the fiscal year ended December 31, 20-2,...

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