Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. gale company has the following inventory and purch

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

80.2K

Verified Solution

Question

Accounting

Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2023. Beginning Inventory Feb. 10 Durchased Feb. 20 sold Mar. 13 purchased Sept. 5 purchased Oct. 10 sold 285 units @$ 81/unit 200 units @$ 85/unit 365 units @$ 161/unit 285 units @$ 79/unit 250 units @$ 65/unit 505 units @$ 161/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 answers to 2 decimal places.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Arrive at the size of the rectangular RCC footing for a column of size 300 mm...

Civil Engineering
Q

Topic: Anemia Definition/Description: Causes: Risk Factors: Symptoms: Complications: Prevention: Treatment

Medical Sciences
Q

Consider a system of four nonidentical spin 1/2 particles. Find the possible values of the total...

Physics
Q

The concept of genetic bottlenecks includes which of the following a loss of genetic diversity...

Biology
Q

Convert 5?/6 radians into degrees:Convert 2?/3 radians into degrees:Convert 7?/4 radians into degrees:Convert ? radians...

Basic Math
Q

5y3 = -2(5-x)Step 2 of 2: Find the equation of the line which passes through...

Basic Math
Q

Please give answer and explanation. Thanks Partners Mann and Nie receive a yearly...

Accounting
Q

Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials...

Accounting
Q

Exercise 7-13 On July 1, 2017, Whispering Inc. made two sales. 1. It sold land...

Accounting
Q

SCR Company had 600,000 shares of common stock outstanding on December 31, 2013. During the...

Accounting
Q

At the beginning of 2019, Metotec Inc. acquired Ellison Technology Corporation for $530 million. In...

Accounting
Q

The Cecil-Booker Vending Company changed its method of valuing inventory from the average cost method...

Accounting