Question
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.
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 Sept. 5 Oct. 10 sold purchased purchased 325 units @ $ 240 units @ $ 405 units @ $ 253 units @ $ 290 units @ $ 545 a FIFO b. Moving weighted average 89/unit 93/unit 169/unit 87/unit 73/unit units @$ 169/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 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 a decimal places.) Prev 1 of 2 An Next >
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