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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 purchased Sept. 5 purchased Oct. 10 sold a FIFO b Moving weighted average 295 units @ $ 210 units @ $ 375 units @ $ 277 units @ $ 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.) Sales Cost of goods sold Gross profit 260 units @ $ 515 units @ $ Ending Inventory 83/unit 87/unit 163/unit 81/unit 67/unit 163/unit FIFO 2. Using your calculations from Part 1, complete the following schedule: (Round your intermediate calculations and final answers to 2 decimal places.) Cost of Goods Sold Moving Weighted Average
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