Calculate the dollar value of ending inventory and cost of goods sold using: a.)...
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Accounting
Calculate the dollar value of ending inventory and cost of goods sold using:
a.) FIFO
b.) Weighted Average inventory method
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Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020. Beginning Inventory 280units@$ 80/unit Feb. 10 purchased 195units@$ 84/unit Feb. 20 sold 360 units@$160/unit Mar. 13 purchased 290 units@$ 78/unit Sept. 5 purchased 255units@$ 64/unit Oct. 10 sold 510units@$160/unit Gale Company employs a perpetual inventory system. Required: 1. Calculate the dollar value of ending inventory and cost of goods sold using
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