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Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023. Beginning Inventory 330 units @ $ 90/unit Feb. 10
Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023.
Beginning Inventory 330 units @ $ 90/unit
Feb. 10 purchased 245 units @ $ 94/unit
Feb. 20 sold 410 units @ $ 170/unit
Mar. 13 purchased 249 units @ $ 88/unit
Sept. 5 purchased 295 units @ $ 74/unit
Oct. 10 sold 550 units @ $ 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.)
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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