Download the Applying Excel form and enter formulas in all cells that contaln questlon marks.

For example, in cell B$26$ enter the formula $"=$ B$17".$

After entering formulas in all of the cells that contained question marks, verify that the dollar amounts match the numbers in Review Problem $1.$

The LIFO inventory flow assumption is used throughout the problem.

Check your worksheet by changing the units sold in the Data to $6,000$ for Year $2$ The cost of goods sold under absorption costing for Year $2$ should now be $$240,000.$ If it isn't. check cell C$41.$ The

formula in this cell should be $$(34,000)$$$34,000=IF(C26].If$ your worksheet $is$ operating properly, the net operating income under both $absorption$ costing and variable costing

should $be$ $$(34,000)$ for Year $2$ That $is,$ the loss $in$ Year $2is$ $$34,000$ under both methods. $If$ you $do$ not get these answers, find the errors $in$ your worksheet and correct them. Assume that the units

produced $in$ year $2$ were sold first

Sove your completed Applying Excel form $to$ your computer and then upload $lt$ here $by$ clleking "Browse." Next, $cllck$ "Sove." You will use this worksheet $to$ answer the questions $in$ Part $2.$