Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023.

Beginning Inventary

320 units 500/unit

Feb. 10 purchased

235 units 5 92/unit

Feb. 20 sold

400 units as 168/unit

Mar. 13 purchased

257 units 85 06/unit

Sept. 5 purchased

205 units @5 72/unit

Oct. 10 sold

540 units 05 168/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

FIFO

bMoving 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

Sales

Cost of goods sold

Moving Weighted Average