Homework
hlove23
week2hwcont.xlsxEnter Answer
| Formula: Multiply; Cell Referencing | ||||||||||||||
| Some cells are merged. | ||||||||||||||
| Using Excel to Determine Ending Inventory | Student Work Area | |||||||||||||
| PROBLEM | Required: Provide input into cells shaded in yellow in this template. Use a cell references and mathematical formulas for calculations. | |||||||||||||
| In its first month of operations, McLanie Company made three purchases of merchandise in the following sequence: | ||||||||||||||
| Purchase $ | Units | Unit Cost | ||||||||||||
| 1 | 300 | at | $ 6.00 | Compute the cost of the ending inventory under the | ||||||||||
| 2 | 400 | at | $ 8.00 | a. | FIFO method | |||||||||
| 3 | 500 | at | $ 9.00 | |||||||||||
| Units | Unit Cost | Total Cost | ||||||||||||
| McLanie uses a periodic inventory system. It also provided the following information: | FIFO | 200 | ||||||||||||
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Author: Answer Field 25% of your score. Cell reference. Input a cell reference to the Problem area. |
Author: Answer Field 25% of your score. Formula: Multiply; Cell reference. Input a mathematical formula with a cell reference to amounts in this work area. | Compute the cost of the ending inventory under the | ||||||||||||
| Units on hand | 200 | b. | LIFO method | |||||||||||
| Units | Unit Cost | Total Cost | ||||||||||||
| LIFO | 200 | |||||||||||||
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Author: Answer Field 25% of your score. Cell reference. Input a cell reference to the Problem area. |
Author: Answer Field 25% of your score. Formula: Multiply; Cell reference. Input a mathematical formula with a cell reference to amounts in this work area. |
