Question
Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023. Beginning Inventory 300 units @ $ 84/unit Feb. 10
Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023.
Beginning Inventory 300 units @ $ 84/unit
Feb. 10 purchased 215 units @ $ 88/unit
Feb. 20 sold 380 units @ $ 164/unit
Mar. 13 purchased 273 units @ $ 82/unit
Sept. 5 purchased 265 units @ $ 68/unit
Oct. 10 sold 520 units @ $ 164/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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