Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing Using Excel to Cost Inventory PROBLEM In its first month of operations, McLanie Company made three purchases. Information concerning these purchases and units on hand are: Units 300 Cost per Unit $ 6.00 10 11 400 500 8.00 12 9.00 13 14 Units on hand at period end 200 15 16 Purchases of merchandise were made in the sequence listed above. 17
Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing Using Excel to Cost Inventory PROBLEM In its first month of operations, McLanie Company made three purchases. Information concerning these purchases and units on hand are: Units 300 Cost per Unit $ 6.00 10 11 400 500 8.00 12 9.00 13 14 Units on hand at period end 200 15 16 Purchases of merchandise were made in the sequence listed above. 17
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 24CE: Inventory Costing: Average Cost Refer to the information for Filimonov Inc. and assume that the...
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Please see the picture below for details on the problem. Please be sure to include cell referencing in the answer and the appropriate formula i.e. weighted average unit cost: (C10*E10)+(C11*E11)+(C12*E12)/(C10+C11+C12). I know the answer for the first box is suppose to be 7.9166666667 but I am having difficulty putting that inside excel using cell reference and the correct formula set up.
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Step 1: Weighted Average Cost - Excel
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