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 i Sept. 5 purchased. Oct. 10 sold. 330 units @s 90/unit 245 units @$ 94/unit 410 units @$ 170/unit 249 units @s 88/unit 295 units @$ 74/unit 550 units es 170/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.) a FIFO b Moving weighted average Cost of Goods Sold Ending Inventory $ 29,530 00 $ $ 26,705.00 $ 64,470.00 67 295 00
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 i Sept. 5 purchased. Oct. 10 sold. 330 units @s 90/unit 245 units @$ 94/unit 410 units @$ 170/unit 249 units @s 88/unit 295 units @$ 74/unit 550 units es 170/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.) a FIFO b Moving weighted average Cost of Goods Sold Ending Inventory $ 29,530 00 $ $ 26,705.00 $ 64,470.00 67 295 00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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 i
Sept. 5 purchased
Oct. 10 sold
330 units @$ 90/unit
245 units @$ 94/unit
410 units @$ 170/unit
249 units @s 88/unit
295 units @$ 74/unit
550 units @s 170/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.)
a FIFO
b Moving weighted average
Ending Inventory
S
$
Cost of Goods
Sold
29,530 00 $
26,705.00 $
64,470 00
67,295.00
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