(Solved): Gale Company has the following inventory and purchases during the fiscal year ended December 31, 20 ...

Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2020. Beginning Inventory Feb. 10 purchased Feb. 20 sold 300 units @$ 84/unit 215 units @$ 88/unit 380 units @$ 164/unit 273 units @$ 82/unit 265 units @$ 68/unit 520 units @s 164/unit Mar. 13 purchased 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 Ending Inventory Cost of Goods Sold 2. Using your calculations from Part 1, complete the following schedule: (Round your intermediate calculations and final answers to 2 decimal places.) Sales Cost of goods sold Gross profit FIFO Moving Weighted Average