help please with all work 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 Oct. 10 sold 340 units @ $ 78/unit 255 units @ $82/unit 420 units @ $158/unit 241 units @ $ 76/unit 305 units @ $ 62/unit 560 units @ $158/unit Gale Company uses a periodic inventory costing 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 $ 48,706.00 Cost of goods sold $ 61,560.00 Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023Beginning InventoryFeb. 10 purchasedFeb. 20 soldpurchasedMar. 13Sept. 5 purchasedOct. 10 sold340 units @ 78/unit255 units @s 02/unit420 units $158/unit241 units @1 76/unit305 units @$ 62/unit560 units @$158/unitGale Company uses a periodic inventory costing system.Required:1. Calculate the dollar value of ending inventory and cost of goods sold using (Round your intermediate calculations and finalanswers to 2 decimal places.)a FIFOb Moving weighted averageEnding inventory$48,706 00Cost of goodssold$61,560.00

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Description: help please with all work 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 Oct. 10 sold 340 units @ $ 78/uni

FIFO is first in first method of inventory valuation. Under which, inventories which are purchased…

Answered: Gale Company has the following…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 1PEA: The following three identical units of Item BZ1810 are purchased during November: Assume that one...

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help please with all work

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 Oct. 10 sold 340 units @ $ 78/unit 255 units @ $82/unit 420 units @ $158/unit 241 units @ $ 76/unit 305 units @ $ 62/unit 560 units @ $158/unit Gale Company uses a periodic inventory costing 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 $ 48,706.00 Cost of goods sold $ 61,560.00

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