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Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. Weighted-average unit cost A 7.91667 Incorre Feedba Round unit cost to 3 decimals using the ROUND function 7.917 by multi acquired and divic All amou Cost of ending inventory 1,583.40 area and

Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. Weighted-average unit cost A 7.91667 Incorre Feedba Round unit cost to 3 decimals using the ROUND function 7.917 by multi acquired and divic All amou Cost of ending inventory 1,583.40 area and

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I really need help with this item below. I have tried a few different ways to do this problem, but the top box keeps coming back as incorrect. I know that the amounts are correct, but the first box is wrong for some reason. Please read the feedback boxes and include the appropriate formulas and cell references for this item. This is done through Excel. PLEASE HELP!!!!!! Note that the pictures are the same exact problem, but I used two separate formulas to try and solve this problem. 

Formatting as Table M12 fx =(E10*C10+E11*C11+E12*C12)/(C10+C11+C12) A C D E F 1 Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing M N O P Q 2 3 Using Excel to Cost Inventory Student Work Area 4. 5 In its first month of operations, McLanie Company made three purchases. 6 Information concerning these purchases and units on hand are: PROBLEM Required: Provide input into cells shaded in yellow in this template.Use only mathematical formulas with cell references to compute the unit cost and the cost of ending inventory. Units Cost per Unit $ 6.00 Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. 10 300 11 400 8.00 12 500 9.00 Weighted-average unit cost Incorrect 13 7.91667 14 Units on hand at period end Feedback: The cost of each purchase is determined by multiplying the cost per unit by the units acquired. These purchase cost amounts are added and divided by the total units of the three purchases. All amounts must be cell referenced to the Problem area and formulas must be used to add, multiple and divide the respective amounts. 200 Round unit cost to 3 decimals using the 7.917 15 ROUND function 16 Purchases of merchandise were made in the sequence listed above. 17 Cost of ending inventory $ 1,583.40 18 19 20 %24
Transcribed Image Text:Formatting as Table M12 fx =(E10*C10+E11*C11+E12*C12)/(C10+C11+C12) A C D E F 1 Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing M N O P Q 2 3 Using Excel to Cost Inventory Student Work Area 4. 5 In its first month of operations, McLanie Company made three purchases. 6 Information concerning these purchases and units on hand are: PROBLEM Required: Provide input into cells shaded in yellow in this template.Use only mathematical formulas with cell references to compute the unit cost and the cost of ending inventory. Units Cost per Unit $ 6.00 Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. 10 300 11 400 8.00 12 500 9.00 Weighted-average unit cost Incorrect 13 7.91667 14 Units on hand at period end Feedback: The cost of each purchase is determined by multiplying the cost per unit by the units acquired. These purchase cost amounts are added and divided by the total units of the three purchases. All amounts must be cell referenced to the Problem area and formulas must be used to add, multiple and divide the respective amounts. 200 Round unit cost to 3 decimals using the 7.917 15 ROUND function 16 Purchases of merchandise were made in the sequence listed above. 17 Cost of ending inventory $ 1,583.40 18 19 20 %24
00 .00 0 Conditional Format Formatting as Table M12 fx =G13/C13 C D E F H 1 Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing L M N O 3 Using Excel to Cost Inventory Student Work Area Required: Provide input into cells shaded in yellow in this template.Use only mathematical formulas with cell references to compute the unit cost and the 4. PROBLEM 5 In its first month of operations, McLanie Company made three purchases. 6 Information concerning these purchases and units on hand are: cost of ending inventory. Units Cost per Unit $ 6.00 9. Value Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. 10 300 1,800 11 400 8.00 3,200 500 9.00 Incorrect 12 4,500 Weighted-average unit cost 2S 7.91667 1,200 Units on hand at period end 13 9,500 Feedback: The cost of each purchase is determined by multiplying the cost per unit by the units acquired. These purchase cost amounts are added and divided by the total units of the three purchases. All amounts must be cell referenced to the Problem area and formulas must be used to add, multiple and divide the respective amounts. 14 200 Round unit cost to 3 decimals using the 7.917 15 ROUND function 16 Purchases of merchandise were made in the sequence listed above. 17 Cost of ending inventory 1,583.40 18 19 20 P. %24
Transcribed Image Text:00 .00 0 Conditional Format Formatting as Table M12 fx =G13/C13 C D E F H 1 Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing L M N O 3 Using Excel to Cost Inventory Student Work Area Required: Provide input into cells shaded in yellow in this template.Use only mathematical formulas with cell references to compute the unit cost and the 4. PROBLEM 5 In its first month of operations, McLanie Company made three purchases. 6 Information concerning these purchases and units on hand are: cost of ending inventory. Units Cost per Unit $ 6.00 9. Value Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. 10 300 1,800 11 400 8.00 3,200 500 9.00 Incorrect 12 4,500 Weighted-average unit cost 2S 7.91667 1,200 Units on hand at period end 13 9,500 Feedback: The cost of each purchase is determined by multiplying the cost per unit by the units acquired. These purchase cost amounts are added and divided by the total units of the three purchases. All amounts must be cell referenced to the Problem area and formulas must be used to add, multiple and divide the respective amounts. 14 200 Round unit cost to 3 decimals using the 7.917 15 ROUND function 16 Purchases of merchandise were made in the sequence listed above. 17 Cost of ending inventory 1,583.40 18 19 20 P. %24
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