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. Cost per Unit $ 6.00 8.00 Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. Units 300 11 400 12 500 9.00 Weighted-average unit cost 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

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. Cost per Unit $ 6.00 8.00 Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. Units 300 11 400 12 500 9.00 Weighted-average unit cost 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

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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