BIUAPaste$ %Merge & Ceter vOpen recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off?1fx Formula: Multiply; Cell ReferencingAB.D.EH.J K LMN.Formula: Multiply; Cell ReferencingUsing Excel to Determine Ending InventoryStudent Work AreaPROBLEMIn its first month of operations, McLanie Company made threepurchases of merchandise in the following sequence:Required: Provide input into cells shaded in yellow in thistemplate. Use a cell references and mathematical formulas forcalculations.Purchase $1.Units300Unit Cost24%$424UnitsUnit CostTotal Costat6.00a.FIFO2002.400at8.003.500at9.00b. LIFO200McLanie uses a periodic inventory system. It also provided thefollowing information:Units on hand200Compute the cost of the ending inventory under thea.FIFO methodb.LIFO method

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Description: BIUAPaste$ %Merge & Ceter vOpen recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off?1fx Formula: Multiply; Cell ReferencingAB.D.EH.J K LMN.Formula: Multiply; Cell ReferencingUsing Excel to Determin

Business

Accounting

Using Excel to Determine Ending Inventory PROBLEM In its first month of operations, McLanie Company made three purchases of merchandise in the following sequence: Purchase $ Units Unit Cost $4 24 2$ 1 300 at 6.00 400 at 8.00 500 at 9.00 McLanie uses a periodic inventory system. It also provided the following information: Units on hand 200 Compute the cost of the ending inventory under the a. FIFO method b. LIFO method 2 3

Using Excel to Determine Ending Inventory PROBLEM In its first month of operations, McLanie Company made three purchases of merchandise in the following sequence: Purchase $ Units Unit Cost $4 24 2$ 1 300 at 6.00 400 at 8.00 500 at 9.00 McLanie uses a periodic inventory system. It also provided the following information: Units on hand 200 Compute the cost of the ending inventory under the a. FIFO method b. LIFO method 2 3

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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