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Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023. Beginning Inventory 370 units @ $ 72/unit Feb. 10
Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023.
Beginning Inventory | 370 | units | @ | $ | 72/unit | ||||
Feb. | 10 | purchased | 285 | units | @ | $ | 76/unit | ||
Feb. | 20 | sold | 450 | units | @ | $ | 152/unit | ||
Mar. | 13 | purchased | 217 | units | @ | $ | 70/unit | ||
Sept. | 5 | purchased | 335 | units | @ | $ | 56/unit | ||
Oct. | 10 | sold | 590 | units | @ | $ | 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.)
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