Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023....
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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 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.) 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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Answer rating: 100% (QA)
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... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
Posted Date:
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