CHECK FIGURES: 1. Ending inventory: a. $9,600.00; b. $10,982.30 Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2 Beginning inventory. Feb. 10 purchased........... Feb. 20 sold............... Mar. 13 purchased. Sept. 5 purchased... Oct. 10 sold..... Gale Company employs a perpetual inventory system. **** 280 units 195 units 360 units 290 units 255 units 510 units @ $80/unit $84/unit $160/unit $78/unit $64/unit $160/unit @
CHECK FIGURES: 1. Ending inventory: a. $9,600.00; b. $10,982.30 Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2 Beginning inventory. Feb. 10 purchased........... Feb. 20 sold............... Mar. 13 purchased. Sept. 5 purchased... Oct. 10 sold..... Gale Company employs a perpetual inventory system. **** 280 units 195 units 360 units 290 units 255 units 510 units @ $80/unit $84/unit $160/unit $78/unit $64/unit $160/unit @
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 2RE: On January 1, Pope Enterprises inventory was 625,000. Pope made 950,000 of net purchases during the...
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Using data from 6-4A do part 1 assuming Gale Company uses a periodic inventory costing system.
1.
A) FIFO
B) Moving weighted average
Transcribed Image Text:CHECK FIGURES: 1. Ending inventory: a. $9,600.00; b. $10,982.30
Gale Company has the following inventory and purchases during the fiscal year ended December 31, 20
Beginning inventory.
Feb. 10 purchased............
Feb. 20 sold....
Mar. 13 purchased...
Sept. 5 purchased..
Oct. 10 sold
448
*****
Gale Company employs a perpetual inventory system.
***********
280 units
195 units
360 units
290 units
255 units
510 units
a
(CD
$80/unit
$84/unit
$160/unit
$78/unit
$64/unit
$160/unit
0%
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