Question
Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020. Beginning Inventory 360 units @ $ 74/unit Feb. 10
Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020.
Beginning Inventory 360 units @ $ 74/unit Feb. 10 purchased 275 units @ $ 78/unit Feb. 20 sold 440 units @ $ 154/unit Mar. 13 purchased 225 units @ $ 72/unit Sept. 5 purchased 325 units @ $ 58/unit Oct. 10 sold 580 units @ $ 154/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.)
Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020.
| Beginning Inventory | 360 | units | @ | $ | 74/unit | ||||
| Feb. | 10 | purchased | 275 | units | @ | $ | 78/unit | ||
| Feb. | 20 | sold | 440 | units | @ | $ | 154/unit | ||
| Mar. | 13 | purchased | 225 | units | @ | $ | 72/unit | ||
| Sept. | 5 | purchased | 325 | units | @ | $ | 58/unit | ||
| Oct. | 10 | sold | 580 | units | @ | $ | 154/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.)
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Essentials Of Federal Taxation 2019
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
10th Edition
1260189988, 1260189678, 9781260189674, 978-1259917103, 125991710X, 978-1260190045
