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Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023. Beginning Inventory Feb. 10 purchased Feb. 20 sold
Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023. Beginning Inventory Feb. 10 purchased Feb. 20 sold Mar. 13 purchased Sept. 5 purchased i Oct. 10 sold 330 units @$ 90/unit 245 units @$ 94/unit 410 units @$ 170/unit 249 units @s 88/unit 295 units @s 74/unit 550 units @s 170/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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SOLUTION To calculate the dollar value of ending inventory and cost of goods sold we need to use the following formulas 1 Ending Inventory Beginning I...Get Instant Access to Expert-Tailored Solutions
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