please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) 1 Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing23 Using Excel to Cost Inventory4PROBLEM5 In its first month of operations, McLanie Company made three6 purchases. Information concerning these purchases and units on7 hand are:89101112131434567817Units3004005001819Cost per Unit$6.00Units on hand at period en1516 Purchases of merchandise were made in the sequence listed above.8.009.00200Student Work AreaRequired: Provide input into cells shaded in yellow in thistemplate.Use only mathematical formulas with cell references tocompute the unit cost and the cost of ending inventory.Compute the cost of the ending inventory under the average-costmethod in a periodic inventory system.Weighted-average unit costRound unit cost to 3 decimals using theROUND functionCost of ending inventory

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Description: please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) 1 Function: ROUND; Formula: Add, Multiply

Inventory means the detailed list or stock of items, goods, or materials held by a business or…

Business

Accounting

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 300 400 500 Cost per Unit $6.00 8.00 9.00 Units on hand at period en Purchases of merchandise were made in the sequence listed above. 200 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 cost of ending inventory. Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. Weighted-average unit cost Round unit cost to 3 decimals using the ROUND function Cost of ending inventory

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 300 400 500 Cost per Unit $6.00 8.00 9.00 Units on hand at period en Purchases of merchandise were made in the sequence listed above. 200 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 cost of ending inventory. Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. Weighted-average unit cost Round unit cost to 3 decimals using the ROUND function Cost of ending inventory

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 10EA: Calculate the cost of goods sold dollar value for A67 Company for the month, considering the...

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Calculate the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG).
Question 1 Assume Hadley Co has the following purchases of inventory during the first month of operations Number of Units Cost per unit 21 First Purchase Second Purchase 278 199 3.7 Assuming Hadley sells 347 units at $13 each, what is cost of goods if they use weighted average?
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