defodb6krtypes Bourse id46912 Remode view registered for GST. In your discussion, include an illustrative example. Given your knowledge of the business, include a recommendation on the inventory system that 'Snowboards Rock should consider adopting Note: you do not need to discuss the different inventory costing methods in your report. (Word guide: 800-1,000 words) il. During a meeting that you had with Mr & Mrs Speedy, you explained the different inventory costing methods, and they both agree that the perpetual system, and the average cost method best suits their business. Prepare an Excel worksheet for the snowboards for July using the perpetual method and the average cost method. In your spreadsheet, keep track of the number of snowboards purchased, sold, snowboards on hand, cost of goods sold, and gross profit made. ill. Now that 'Snowboards Rock has adopted the perpetual inventory system and the average cost method, prepare journal entries (including any adjusting entries as at 31 July) for all of the business's transactions for July in an Excel spreadsheet. Include dates, references and narrations. iv. Prepare T-accounts in an Excel spreadsheet, and post all of the above journal entries to the T-accounts. Include dates and references for each entry. Total art of the T-accounts to determine their balances at the end of July. v. Prepare the 'Adjusted Trial Balance' in an Excel spreadsheet as at 31 July. Use formulas to generate all of the figures in the 'Adjusted Trial Balance from the balances in the T-Accounts, vi. Prepare the income statement, balance sheet, and statement of changes in equity in Excel. Use formulas to generate all of the figures in the financial statement reports from the 'Adjusted Trial Balance: vii. Calculate the business's gross profit percentage and current ratio, and explain what these ratios tell us. Also explain why these ratios should be carefully monitored by Mr & Mrs Speedy as they continue to operate and grow their business in the coming months. wease also refer to the 'Requirements' section below for additional submission and spreadsheet requirements.te Windows Go to Settings to activate Window ote: a business report includes: ENG 9:14 PM 16/09/2020 defodb6krtypes Bourse id46912 Remode view registered for GST. In your discussion, include an illustrative example. Given your knowledge of the business, include a recommendation on the inventory system that 'Snowboards Rock should consider adopting Note: you do not need to discuss the different inventory costing methods in your report. (Word guide: 800-1,000 words) il. During a meeting that you had with Mr & Mrs Speedy, you explained the different inventory costing methods, and they both agree that the perpetual system, and the average cost method best suits their business. Prepare an Excel worksheet for the snowboards for July using the perpetual method and the average cost method. In your spreadsheet, keep track of the number of snowboards purchased, sold, snowboards on hand, cost of goods sold, and gross profit made. ill. Now that 'Snowboards Rock has adopted the perpetual inventory system and the average cost method, prepare journal entries (including any adjusting entries as at 31 July) for all of the business's transactions for July in an Excel spreadsheet. Include dates, references and narrations. iv. Prepare T-accounts in an Excel spreadsheet, and post all of the above journal entries to the T-accounts. Include dates and references for each entry. Total art of the T-accounts to determine their balances at the end of July. v. Prepare the 'Adjusted Trial Balance' in an Excel spreadsheet as at 31 July. Use formulas to generate all of the figures in the 'Adjusted Trial Balance from the balances in the T-Accounts, vi. Prepare the income statement, balance sheet, and statement of changes in equity in Excel. Use formulas to generate all of the figures in the financial statement reports from the 'Adjusted Trial Balance: vii. Calculate the business's gross profit percentage and current ratio, and explain what these ratios tell us. Also explain why these ratios should be carefully monitored by Mr & Mrs Speedy as they continue to operate and grow their business in the coming months. wease also refer to the 'Requirements' section below for additional submission and spreadsheet requirements.te Windows Go to Settings to activate Window ote: a business report includes: ENG 9:14 PM 16/09/2020