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 i Sept. 5 purchased. Oct. 10 sold. 330 units @s 90/unit 245 units @$ 94/unit 410 units @$ 170/unit 249 units @s 88/unit 295 units @$ 74/unit 550 units es 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.) a FIFO b Moving weighted average Cost of Goods Sold Ending Inventory $ 29,530 00 $ $ 26,705.00 $ 64,470.00 67 295 00
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 i Sept. 5 purchased. Oct. 10 sold. 330 units @s 90/unit 245 units @$ 94/unit 410 units @$ 170/unit 249 units @s 88/unit 295 units @$ 74/unit 550 units es 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.) a FIFO b Moving weighted average Cost of Goods Sold Ending Inventory $ 29,530 00 $ $ 26,705.00 $ 64,470.00 67 295 00
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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