Complete the inventort costing schedules documenting details (every possible shelf) in the calculation of ending inventory and cost of goods sold for each of the 3 costing methods.
Total cost Cakulate Cost of Good Sold and Ending hvertory uning 3 costing methods in the periode Asystem of inventory Analyze the impact on the financial statements of each entory costing method and witem of entory Beginning inventory lan 15 purchase 20 $20.00 25 S 2500 Use Microsoft Excel proficiently to record and are formation used in business analys and decision making Ian 20 purchase Total inventory January Sales Ending Inventory 25 533 00 BO 42 38 REQUIRED FOR POINTS A Complete the matter to recording formules were to wormation och costychedule Complete the inventory couting bed document details (every possible shelf in the calculation of ending investory and cost of the old for each of the method formules for calls and reference to the master record Answer the following ustions for this example Which method provides the highest or income? Which method provides the largest wet vakre on the Balance Sheet? Are your answers to the above questions always true? Explain Which method would you choose? Explain REG. INVENTORY COSTING SCHEDULES Link or reference back to the descriptions and content med FoEndingin lan 15 purchase Lan 20 purchase REQC Anwwers REQ, B INVENTORY COSTING SCHEDULES Link or reference back to the description units and cost on the master record Calculate the Ending Inventory and cost of Goods Sold using Periodic FIFO FIFO Ending Inventory # of Units Cost per unit Total cost Description Jan 15 purchase Jan 20 purchase Total FIFO Cost of Goods Sold # of Units Cost per unit Description Total cost Calculate the Ending Inventory and Cost of Goods Sold using Periodic LIFO LIFO Ending Inventory # of Units Cost per unit Description Total cost LIFO Cost of Goods Sold # of Units Cost per unit Description Total cost Calculate the Ending Inventory and cost of Goods Sold using Periodic LIFO LIFO Ending Inventory # of Units Cost per unit Description Total cost Description LIFO Cost of Goods Sold # of Units Cost per unit Total cost Calculate the Ending Inventory and cost of Goods Sold using Periodic Weighted Average WEIGHTED AVERAGE Ending Inventory WEIGHTED AVERAGE Cost of Goods Sold Calculate cost of ending inventory and cost of goods sold using periodic FIFO, LIFO and Weighted Average Cost methods. Make Rretor gente use of Excel/Sheets capabilities by using of many formulas and section functions as possible MASTER RECORD - The BBC2, Inc. uses a periodic inventory system and has the following should be called information available: FIRST REQA MASTER INVENTORY RECORD Desmonishes Total cost Chapter & Course Outcomes: (to be demonstrated in this project) Coste Cost of Goods Sold and Ending inventoryuting 3cooth method the periode Atem of inventory Analyze the impact on the phono statements of each vory consthe method and of story Ule Mcrosoft Erol prototy to record and summarize information used in business malas Beginning inventory Jan 15 purchase 201$20.00 25 S 25.00 10 Jan 20 purchase Total Inventory January Sales Ending Inventory 35 $ 33.00 80 42 38 **Uformulatorul REQUIRED FOR POINTS: A Complete the master inventory recording Formulas Reference in to information for the costhesiedule Complete the inventory coothg schedules documenthe details (every possible shelf in the calculation of ending inventory and cost of good solo for each of the other te formulas for calculation and referenceink to the master record C Answer the following questions for the Which method provides the highest income? which method provides the value on the balance sheet Are your owers to the above on www plan method would you choose? REQB INVENTORY COSTING SCHEDULES Link reference to the destinand cost on the record the Ending and cost of Good
