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. ADGH.KN1 Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing2.3 Using Excel to Cost InventoryStudent Work AreaPROBLEM5 In its first month of operations, McLanie Company made three purchases.6 Information concerning these purchases and units on hand are:Required: Provide input into cells shaded in yellow in this template.Use onlymathematical formulas with cell references to compute the unit cost and thecost of ending inventory.78Cost per Unit$ 6.00Compute the cost of the ending inventory under the average-cost method ina periodic inventory system.9Units10300114008.005009.00Weighted-average unit cost121314Units on hand at period end200Round unit cost to 3 decimals using theROUND function1516 Purchases of merchandise were made in the sequence listed above.Cost of ending inventory17

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Answered: Function: ROUND; Formula: Add,…

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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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.

A
D
G
H.
K
N
1 Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing
2.
3 Using Excel to Cost Inventory
Student Work Area
PROBLEM
5 In its first month of operations, McLanie Company made three purchases.
6 Information concerning these purchases and units on hand are:
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.
7
8
Cost per Unit
$ 6.00
Compute the cost of the ending inventory under the average-cost method in
a periodic inventory system.
9
Units
10
300
11
400
8.00
500
9.00
Weighted-average unit cost
12
13
14
Units on hand at period end
200
Round unit cost to 3 decimals using the
ROUND function
15
16 Purchases of merchandise were made in the sequence listed above.
Cost of ending inventory
17

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