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Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020. Beginning Inventory 300 units @ $ Feb. 10
Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020. Beginning Inventory 300 units @ $ Feb. 10 purchased 215 units @ $ Feb. 20 sold 380 units @ $ 84/unit 88/unit 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.) a. FIFO b. Moving weighted average Ending Inventory Cost of Goods Sold
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