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2 Gale Company has the following Inventory and purchases during the fiscal year ended December 31, 2023. 25 points Beginning Inventory Feb. 10 purchased
2 Gale Company has the following Inventory and purchases during the fiscal year ended December 31, 2023. 25 points Beginning Inventory Feb. 10 purchased Feb. 20 sold Mar. 13 purchased Sept. 5. Oct. 18 purchased sold 305 units @ $ 220 units @ $ 89/unit 385 units @$ 165/unit 269 units @ $ 83/unit 270 units @ $ 69/unit 525 units @$ 165/unit 85/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.) Answer is complete but not entirely correct. Ending Inventory Cost of Goods Sold a. FIFO b. Moving weighted average S $ 10,626.00 12,514.04 S 75,836.00 73,946.60 2. Using your calculations from Part 1, complete the following schedule: (Round your Intermediate calculations and final answers to 2 decimal places.) Answer is complete but not entirely correct. FIFO Moving Weighted Average Sales $ 150,150.00 $ 150,150.00 Cost of goods sold $ 75,836.00 S 73,946.60 Gross profit $ 74,314.00 76,203.40
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