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The Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020. @ Beginning inventory...... Feb. 10 purchased. Feb. 20
The Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020. @ Beginning inventory...... Feb. 10 purchased. Feb. 20 sold...... Mar. 13 purchased. Sept. 5 purchased. Oct. 10 sold.... 280 units 195 units 360 units 290 units 255 units 510 units $80/unit $84/unit $160/unit $78/unit $64/unit $160/unit Gale Company employs a perpetual inventory system. Required 1. Calculate the dollar value of ending inventory and cost of goods sold using: A. FIFO 2 Claculate the Gross Profit also
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