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Gale Company has the following inventory and purchases during the fiscal yea. Jed December 31, 2023. Beginning Inventory Feb. 10 purchased Feb. 20 sold Mar.

Gale Company has the following inventory and purchases during the fiscal yea. Jed December 31, 2023.

Beginning Inventory

Feb. 10

purchased

Feb. 20

sold

Mar. 13

purchased

Sept. 5

purchased

Oct. 10 sold

350 units @$ 76/unit

265 units @$

80/unit

430 units @$ 156/unit

233 units @$ 74/unit

315 units @$ 60/unit

570 units @$ 156/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

a.

FIFO

b.

Moving weighted average

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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