Please see the pictures below. I am completely stumped on this problem and really need help with it. I know that my answers are right, but the formula used for the first box keeps coming back as incorrect. I have tried the one listed below in the picture of the one that came back incorrect, I have tried doing the sumproduct option with division as well, doing a separate column of the amounts and then putting the formula in, but to no avail. Nothing seems to be working. I only have one attempt remaining on this and the first picture below shows the same exact formula that came back as wrong, but its just switched to C being in front of each part of the formula, instead of E. PLEASE SEE THE FEEDBACK IN PICTURE!!!!! Please include the appropriate formula and cell references as used in Excel!!!! meLiberation Sansv 12 v A A三三E Wrap Text vCustomBIU H - - A vaste$ v % 9 8 8白-由、E Merge & Center v00Conditional FormatFormatting as Table StylesCell12: x v fx (C10*E10+C11*E11+C12*E12)/(C10+C11+C12)ABCD EFHMQFunction: ROUND; Formula: Add, Multiply, Divide; Cell ReferencingUsing Excel to Cost InventoryStudent Work AreaPROBLEMIn its first month of operations, McLanie Company made three purchases.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.UnitsCost per Unit$ 6.00Total Cost1011Compute the cost of the ending inventory under the average-cost method ina periodic inventory system.3004008.00Answer Field125009.00Weighted-average unit cost$m7.91667)13Formula: Add, Multiply, Divide; Cell reference.Input a mathematical formula using cell-referencingfrom the respective amounts in the Problem Area.14Units on hand at period end200Round unit cost to 3 decimals using the7.91715ROUND function16 Purchases of merchandise were made in the sequence listed above.17Cost of ending inventory$ 1,583.4018192021222324252627282930313233343536373839404142Enter AnswerCell M12 note by Author436427CC M12fx =(E10*C10+E11*C11+E12*C12)/(C10+C11+C12)ABCDFHKMQR1 Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing23 Using Excel to Cost InventoryStudent Work AreaPROBLEMRequired: 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.4.5 In its first month of operations, McLanie Company made three purchases.6 Information concerning these purchases and units on hand are:8.Cost per Unit$ 6.00Compute the cost of the ending inventory under the average-cost method ina periodic inventory system.Units1103001 114008.00Incorrect125009.00Weighted-average unit cost$ m7.9166713Feedback: The cost of each purchase is determinedby multiplying the cost per unit by the unitsacquired. These purchase cost amounts are addedand divided by the total units of the three purchases.All amounts must be cell referenced to the Problemarea and formulas must be used to add, multiple anddivide the respective amounts.14Units on hand at period end200Round unit cost to 3 decimals using the7.91715ROUND function16 Purchases of merchandise were made in the sequence listed above.17Cost of ending inventory1,583.40181920iIN

Inventory refers to the stock that the company held for the resale purpose or is not sold by the…

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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 pictures below. I am completely stumped on this problem and really need help with it. I know that my answers are right, but the formula used for the first box keeps coming back as incorrect. I have tried the one listed below in the picture of the one that came back incorrect, I have tried doing the sumproduct option with division as well, doing a separate column of the amounts and then putting the formula in, but to no avail. Nothing seems to be working. I only have one attempt remaining on this and the first picture below shows the same exact formula that came back as wrong, but its just switched to C being in front of each part of the formula, instead of E. PLEASE SEE THE FEEDBACK IN PICTURE!!!!! Please include the appropriate formula and cell references as used in Excel!!!!

me
Liberation Sans
v 12 v A A
三三
E Wrap Text v
Custom
BIU H - - A v
aste
$ v % 9 8 8
白-由、
E Merge & Center v
00
Conditional Format
Formatting as Table Styles
Cell
12
: x v fx (C10*E10+C11*E11+C12*E12)/(C10+C11+C12)
A
B
C
D E
F
H
M
Q
Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing
Using Excel to Cost Inventory
Student Work Area
PROBLEM
In its first month of operations, McLanie Company made three purchases.
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.
Units
Cost per Unit
$ 6.00
Total Cost
10
11
Compute the cost of the ending inventory under the average-cost method in
a periodic inventory system.
300
400
8.00
Answer Field
12
500
9.00
Weighted-average unit cost
$m7.91667)
13
Formula: Add, Multiply, Divide; Cell reference.
Input a mathematical formula using cell-referencing
from the respective amounts in the Problem Area.
14
Units on hand at period end
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
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
Enter Answer
Cell M12 note by Author
4364
27
C
C

M12
fx =(E10*C10+E11*C11+E12*C12)/(C10+C11+C12)
A
B
C
D
F
H
K
M
Q
R
1 Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing
2
3 Using Excel to Cost Inventory
Student Work Area
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.
4.
5 In its first month of operations, McLanie Company made three purchases.
6 Information concerning these purchases and units on hand are:
8.
Cost per Unit
$ 6.00
Compute the cost of the ending inventory under the average-cost method in
a periodic inventory system.
Units
110
300
1 11
400
8.00
Incorrect
12
500
9.00
Weighted-average unit cost
$ m7.91667
13
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
Units on hand at period end
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
iIN

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