All solutions must be entered as a formula

1. Calculate cost of ending inventory and cost of goods sold using periodic FIFO, LIFO, and Weighted Average Cost methods. H5 Inventory costing methods - Excel ? 5 X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In X Calibri 11 | A A M Paste BIU % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard Font A1 for Better Bottles, Inc., uses a periodic inventory system and has the following V E F A B D 1 Better Bottles, Inc., uses a periodic inventory system and has the following information available: 2 3 Description # of Units Cost per Unit Total Cost 4 Beginning Inventory 20 $ 20.00 $ 400.00 5 Jan. 15 Purchase 27 22.00 594.00 6 Jan. 20 Purchase 33 30.00 990.00 7 Goods Available for Sale 80 $ 1,984.00 8 Less: January Sales 36 9 Ending Inventory 44 10 11 12 Required: ARA Inventory costing methods - Excel ? 1 - X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 | Paste BI U % Alignment Number Conditional Format as Cell Formatting* Table Styles Styles Cells Editing Clipboard Font A1 Better Bottles, Inc., uses a periodic inventory system and has the following B D E F 12 Required: 13 1) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO. 14 15 FIFO Ending Inventory 16 Description # of Units Cost per Unit Total Cost 17 Jan. 20 Purchase 18 Jan. 15 Purchase 19 44 20 21 FIFO Cost of Goods Sold 22 Description # of Units Cost per Unit Total Cost 23 Beginning Inventory XJ ? - Inventory costing methods - Excel FORMULAS DATA REVIEW FILE HOME INSERT PAGE LAYOUT VIEW Sign In Calibri 11 | LA Paste BIU- % Alignment Number Conditional Format as Cell Formatting* Table Styles Styles Cells Editing Clipboard Font A1 Better Bottles, Inc., uses a periodic inventory system and has the following E F B D 22 Description # of Units Cost per Unit Total Cost 23 Beginning Inventory 24 Jan. 15 Purchase 25 36 26 27 2) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic LIFO. 28 29 LIFO Ending Inventory 30 Description # of Units Cost per Unit Total Cost 31 Beginning Inventory 32 Jan. 15 Purchase 33 44 24 Inventory costing methods - Excel ? - x FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In i Calibri - 11 AA % Paste BIU - A- Alignment Number Cells Editing Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 Better Bottles, Inc., uses a periodic inventory system and has the following A B D E F 32 Jan. 15 Purchase 33 44 34 35 LIFO Cost of Goods Sold 36 Description # of Units Cost per Unit Total Cost 37 Jan. 20 Purchase 38 Jan. 15 Purchase 39 36 40 41 3) Using Periodic Weighted Average, first calculate the cost per unit using the formula below. 42 Next, apply that same cost per unit to calculate both the Ending Inventory and Cost of Goods Sold. 43