Answers must be answered as a formula

Better Bottles, Inc. uses a periodic Inventory system and has provided its current Inventory Information. The Controller has as you to prepare a comparison of the Ending Inventory and cost of Goods Sold totals for three different Inventory costing methods: Periodic FIFO, LIFO, and Welghted Average. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below. If in a blank cell, "=35" was entered, the formula would output the result from cell B5, or 27 in this example. Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: - (plus sign to ado).- (minus sign to subtract). - (asterisk sign to multiply), and / (forward slash to divide). From the Excel Simulation below, if in a blank cell "=B4-85" was entered the formula would add the values from those cells and output the result or 47 In this example. If using the other math symbols the result would output an appropriate answer for its function. SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell"-SUM(C4,C5,C6)" was entered the formula would output the result of adding those three separate cells, or $72.00 in this example. Similarly, if in a blank cell *=SUMC4:06)" was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be $72.00 In this example. . Inventory costing methods - Excel FORMULAS DATA REVIEW FILE HOME INSERT PAGE LAYOUT VIEW Sign In Calibri 11 AA 96 Paste BIU- Cells Alignment Number Conditional Format as Cell Formatting - Table Styles - Styles Clipboard Font A1 Better Bottles, Inc., uses a periodic inventory system and has the following B C D E Etter bottles, Inc., uses a periodicnventory system ano nas the following informadon available: 3 Description #of Units Cost per Unit Total Cost 4 eginning Inventory 2015 20.005 400.00 in. 15 Purchase 27 22.00 594.00 6 in. 20 Purchase 33 30.00 990.00 7 oods Available for Sale 80 5 1,984.00 8 255: January Sales 36 9 nding Inventory 441 10 11 12 equired: 13 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 in. 20 Purchase 18 in. 15 Purchase 19 44 20 21 FIFO Cost of Goods sold 22 Description #of Units Cost per Unit Total Cost 23 eginning Inventory Sheet1 + READY + 100% L Attempt(s) Hint 4 13 points Better Bottles, Inc. uses a periodic Inventory system and has provided its current Inventory Information. The Controller has as you to prepare a comparison of the Ending Inventory and Cost of Goods Sold totals for three different inventory costing methods: Periodic FIFO, LIFO, and Weighted Average. Use the information Included in the Excel Simulation and the Excel functions described below to complete the task. Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell. *=85" was entered the formula would output the result from cell B5, or 27 In this example. Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: - (plus sign to add). - (minus sign to subtract). - (asterisk sign to multiply), and/(forward slash to divide). From the Excel Simulation below, if in a blank cell *=B4-85" was entered the formula would add the values from those cells and output the result, or 47 in this example. If using the other math symbols the result would output an appropriate answer for its function. SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell "SUM(C4,C5,C6" was entered the formula would output the result of adding those three separate cells, or $72.00 in this example. Similarly, if in a blank cell *=SUMC4:06)" was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be $72.00 in this example. Skipped eBook Print ? References Inventory costing methods - Excel FORMULAS DATA REVIEW FILE HOME INSERT PAGE LAYOUT VIEW Sign In Calibri 11 A % Paste BIU- Cells Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard fant A1 Better Bottles, Inc., uses a periodic inventory system and has the following E - UI UTILS B C D 22 vesli IUUII LUSL per un TULI LUSL 23 eginning Inventory 24 in. 15 Purchase 25 36 26 27 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 eginning Inventory 32 in. 15 Purchase 33 44 34 35 LIFO Cost of Goods Sold 36 Description #of Units Cost per Unit Total Cost 37 in. 20 Purchase 38 in. 15 Purchase 39 36 40 41 Using Periodic Weighted Average, first calculate the cost per unit using the formula below. 42 ext, apply that same cost per unit to calculate both the Ending Inventory and cost of Goods Sold. 43 44 Sheet1 + 100% READY Attempt(s) Hint BX Inventory costing methods - Excel FORMULAS DATA REVIEW FILE HOME INSERT PAGE LAYOUT VIEW Sign In Calibri 11 AA a Paste BIU- Cells Alignment Number Conditional Format as Cell Formatting - Table Styles - Styles Clipboard Font A1 Better Bottles, Inc., uses a periodic inventory system and has the following B D E 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 44 45 46 47 Weighted Average Cost = Cost of Goods Available for sale Number of Units Available for sale per unit 48 Weighted Average Ending Inventory #of Units Cost per Unit Total Cost 49 SO 52 51 Weighted Average cost of Goods Sold 53 # of Units Cost per Unit Total Cost 54 55 564) Use the given information and your calculated numbers to complete the cost of Goods Sold 57 Equation below for all three inventory methods. All numbers should be positive. 58 FIFO LIFO 59 Beginning Inventory 60 Add: Purchases 61 Goods Available for Sale 62 Less: Ending Inventory 63 Cost of Goode cald Sheet1 wtd. Avg. READY 100% Attempt(s) Hint