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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
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 320 units @$ 88/unit 235 units @s 92/unit 400 units es 168/unit 257 units @s 86/unit 285 units @$ 72/unit 540 units @5 168/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.) Ending Inventory Cost of Goods Sold a FIFO b. Moving weighted average 2. Using your calculations from Part 1, complete the following schedule: (Round your intermediate calculations and final answers to 2 decimal places.) FIFO Moving Weighted Average 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.) FIFO b Moving weighted average Cost of Goods Ending Inventory 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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