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result of adding those cells, except they are expressed as a range in the formula, and the result would be 80 in this exa 1 X 5 Inventory costing methods - Excel ? - X Sign In 4. FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW nts X Calibri 11 | A À A A = % Skipped Paste BIU- A- Cells Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font eBook A1 V X fix Better Bottles, Inc., uses a periodic inventory system and has the following E F F G H Print "eferences B с D 1 Better Bottles, Inc., uses a periodic inventory system and has the following information available: 2 3 Description # of Units Cost per Unit Total Cost 4 Beginning Inventory 20 $ 20.00 $ 400.00 5 Jan. 15 Purchase 27 22.00 594.00 6 Jan. 20 Purchase 33 30.00 990.00 7 Goods Available for Sale 80 $ 1,984.00 8 Less: January Sales 36 9 Ending Inventory 44 10 11 12 Required: 13 1) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO. 14 15 FIFO Ending Inventory 16 Description # of Units Cost per Unit Total Cost 17 Jan. 20 Purchase 18 Jan. 15 Purchase 19 44 20 21 FIFO Cost of Goods Sold 22 Description # of Units Cost per Unit Total Cost 23 Beginning Inventory 24 Jan. 15 Purchase 25 36 26 27 2) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic LIFO. 28 29 LIFO Ending Inventory 30 Description # of Units Cost per Unit Total Cost 31 Beginning Inventory 32 Jan 15 Purchase Sheet1 + - + 10% READY Attempt(s)
result of adding those cells, except they are expressed as a range in the formula, and the result would be 80 in this exa 1 X 5 Inventory costing methods - Excel ? - X Sign In 4. FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW nts X Calibri 11 A A A À = % Skipped Paste BIU- A- Cells Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font eBook A1 V X х Better Bottles, Inc., uses a periodic inventory system and has the following E F G H Print 44 "eferences per unit B с D 32 Jan. 15 Purchase 33 34 35 LIFO Cost of Goods Sold 36 Description # of Units Cost per Unit Total Cost 37 Jan. 20 Purchase 38 Jan. 15 Purchase 39 36 40 41 3) Using Periodic Weighted Average, first calculate the cost per unit using the formula below. 42 Next, apply that same cost per unit to calculate both the Ending Inventory and Cost of Goods Sold. 43 44 45 Weighted Cost of Goods Available for Sale 46 Average Cost = Number of Units Available for Sale 47 48 Weighted Average Ending Inventory 49 # of Units Cost per Unit Total Cost 50 51 52 Weighted Average Cost of Goods Sold 53 # of Units # Cost per Unit Total Cost 54 55 56 4) Use the given information and your calculated numbers to complete the cost of Goods Sold 57 Equation below for all three inventory methods. (All numbers should be positive.) 58 LIFO Wtd. Avg. 59 Beginning Inventory 60 Add: Purchases 61 Goods Available for Sale 62 Less: Ending Inventory 63 Cost of Goods Sold Sheet1 + FIFO -E + 10% READY Attempt(s)