Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020.

Beginning I..s@$72/unitFeb.10purchased285units@$..s@$152/unitMar.13purchased217units@$..s@$56/unitOct.10sold590units@$152/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.)

Beginning I..s@$72/unitFeb.10purchased285units@$..s@$152/unitMar.13purchased217units@$..s@$56/unitOct.10sold590units@$152/unit