Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023.330 units @s 90/unit245 units @$ 94/unitBeginning InventoryFeb. 10 purchased.Feb. 20 soldMar. 13 purchasedSept. 5 purchasedOct. 10 sold410 units @$249 units @295 units @$550 units @s 170/unita FIFOb Moving weighted averageGale Company employs a perpetual inventory system.Required:1. Calculate the dollar value of ending inventory and cost of goods sold using: (Round your intermediate calculations and finalanswers to 2 decimal places.)170/unit88/unit74/unitEnding InventoryS$Cost of GoodsSold29,530 00 S26,705.00 $64,470 0067,295.00a

Inventory Valuation Methods are methods of valuation of inventory.There are three methods of…

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 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 330 units @s 90/unit 245 units @$ 94/unit 410 units @$ 170/unit 249 units @$ 88/unit 295 units @$ 74/unit 550 units @s 170/unit Ending Inventory $ S Cost of Goods Sold 29,530 00 S 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 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 330 units @s 90/unit 245 units @$ 94/unit 410 units @$ 170/unit 249 units @$ 88/unit 295 units @$ 74/unit 550 units @s 170/unit Ending Inventory $ S Cost of Goods Sold 29,530 00 S 26,705.00 $ 64,470 00 67,295 00

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter6: Inventories

Section: Chapter Questions

Problem 4BE: Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory...

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