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aste Alignment Number Cells Conditional Format as Cell Formatting Table Styles Styles Hipboard Font 58 X A B D Better Bottles, Inc., uses a periodic inventory system and has the following information available: Description # of Units Cost per Unit Total Cost Beginning Inventory 20 $ 20.00 $ 400.00 Jan. 15 Purchase 27 22.00 594.00 5 Jan. 20 Purchase 33 30.00 990.00 Goods Available for Sale 80 $ 1,984.00 Less: January Sales 36 Ending Inventory 44 0 11 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 Sheet1 READY ME Prev 1 of 1 Next Inventory costing methods 1. Calculate cost of ending inventory and cost of goods sold using periodic FIFO, LIFO, and Wei ? FILE Inventory costing methods - Excel FORMULAS DATA REVIEW HOME INSERT PAGE LAYOUT VIEW % Calibri -11 -A Paste BIU- :: - Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font C8 V 3 > E A B D 21 FIFO Cost of Goods Sold 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 34 35 LIFO Cost of Goods Sold 36 Description # of Units Total Cost Cost per Unit Prey 1 of 1 Next 7 go F3 DOD 000 F4 Howser=0&launchurahttps%253A%252F%252Flearn.dcollege.net inventory Saved Calibri 11 -A A % M Paste BIU - Cells Editing Clipboard Alignment Number Conditional Format as Cell Formatting Table Styles - Styles Font CS *** f D 5 E F B LIFO Cost of Goods Sold # of Units Cost per Unit Total Cost Description Jan. 20 Purchase 3 Jan. 15 Purchase 36 3) Using Periodic Weighted Average, first calculate the cost per unit using the formula below. Next, apply that same cost per unit to calculate both the Ending Inventory and Cost of Goods Sold. Weighted Average Cost = per unit Cost of Goods Available for Sale Number of Units Available for Sale Weighted Average Ending Inventory of Units Cost per Unit Total Cost Weighted Average Cost of Goods Sold # of Units Cost per Unit Total Cost 4) Use the given information and your calculated numbers to complete the cost of Goods Sold Equation below for all three inventory methods. (All numbers should be positive.) LIFO Sheet1 EASY FIFO Wtd. Ave.