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 Gale Company employs a perpetual inventory system. 315 units @ $ 230 units @ $ 395 units @ $ 261 units @ $ 87/unit 91/unit 167/unit 85/unit 280 units @ $ 71/unit 535 units @ $ 167/unit 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.) a FIFO b. Moving weighted average 101 Ending Inventory DOOGGE ERLEBNI Cost of Goods Sold 900 1001 SHREE 2. Using your calculations from Part 1, complete the following schedule: (Round your intermediate calculations and final answers to 2 B
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 Gale Company employs a perpetual inventory system. 315 units @ $ 230 units @ $ 395 units @ $ 261 units @ $ 87/unit 91/unit 167/unit 85/unit 280 units @ $ 71/unit 535 units @ $ 167/unit 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.) a FIFO b. Moving weighted average 101 Ending Inventory DOOGGE ERLEBNI Cost of Goods Sold 900 1001 SHREE 2. Using your calculations from Part 1, complete the following schedule: (Round your intermediate calculations and final answers to 2 B
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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