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 Oct. 10 purchased sold 285 units @$ 81/unit 200 units @$ 85/unit 365 units $ 161/unit 285 units @$ 79/unit 250 units @$ 65/unit ses units @$ 161/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.) a. FIFO b. Moving weighted average Ending Inventory Cost of Goods 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 Oct. 10 purchased sold 285 units @$ 81/unit 200 units @$ 85/unit 365 units $ 161/unit 285 units @$ 79/unit 250 units @$ 65/unit ses units @$ 161/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.) a. FIFO b. Moving weighted average Ending Inventory Cost of Goods Sold

Answer rating: 100% (QA)

Answer Gale Company Inventory Valuation Perpetual System We will calculate the ending inventory and cost of goods sold for Gale Company under both FIF... View the full answer