Calculate the dollar value of ending inventory

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Reference no: EM133017243

Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020.

Beginning Inventory 350 units @ $ 76/unit

Feb. 10 purchased 265 units @ $ 80/unit

Feb. 20 sold 430 units @ $ 156/unit

Mar. 13 purchased 233 units @ $ 74/unit

Sept. 5 purchased 315 units @ $ 60/unit

Oct. 10 sold 570 units @ $ 156/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.)

2. Using your calculations from Part 1, complete the following schedule: (Round your intermediate calculations and final answers to 2 decimal places.)

Reference no: EM133017243

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