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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 sold purchased purchased
Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023. Beginning Inventory Feb. 10 purchased sold purchased purchased sold Feb. 20 Mar. 13 Sept. 5 Oct. 10 370 units @$ 72/unit 285 units @$ 76/unit 450 units @$ 152/unit 217 units @$ 70/unit 56/unit 335 units @ $ 590 units @ $ 152/unit nt nces 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.) a. FIFO b. Moving weighted average Ending Inventory Cost of Goods Sold 2. Using your calculations from Part 1, complete the following schedule: (Round your intermediate calculations and final answers to 2 decimal places.) Sales Cost of goods sold Gross profit FIFO Moving Weighted Average
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