File Home Insert Draw Formulas Data Review View Help A1 1 B \begin{tabular}{l|l|l} D & E & F \\ \hline \end{tabular} Better Bottles, Incorporated uses a periodic inventory system and has provided its current inventory information. The Controller has asked 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. 3 \begin{tabular}{|c|c|c|c|c|} \hline Description & \# of Units & Cost per Unit & & al Cost \\ \hline Beginning Inventory & 20 & 20.00 & $ & 400.00 \\ \hline January 15 Purchase & 27 & 22.00 & & 594.00 \\ \hline January 20 Purchase & 33 & 30.00 & & 990.00 \\ \hline Goods Available for Sale & 80 & & $ & 1,984.00 \\ \hline Less: January Sales & 36 & & & \\ \hline Ending Inventory & 44 & & & \\ \hline \end{tabular} 11 12 Here are some tips for using Excel: 13 Cell Reference: Allows you to refer to data from another cell in the worksheet. If you entered "=B5" Basic Math Functions: into a blank cell, the formula would output the value from cell B5. Allow 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). For example, if you entered "=B4+B5" in a blank cell, the formula would add the values from those cells and output the result. SUM Function: cell references or ranges. If you entered "=SUM (C4,C5,C6) " into a blank cell, the formula would output the result of adding those three separate cells. Similarly, if you entered "=SUM(C4:C6)", the formula would output the same result of adding those cells. 16 17 Required: 18 1. Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO. File Home Insert Draw Formulas Data Review View Help A1 14 A SUM Function: 15 use the following keys:+ (plus sign to add), - (minus sign to subtract), * (asterisk sign to multiply), and / (forward slash to divide). For example, if you entered "=B4+B5" in a blank cell, the formula would add the values from those cells and output the result. cell references or ranges. If you entered " =SUM(C4,C5,C6) " into a blank cell, the formula would output the result of adding those three separate cells. Similarly, if you entered "=SUM(C4:C6)", the formula would output the same result of adding those cells. 17 Required: 18 1. Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO. 19 (Use cells A4 to D10 from the given information to complete this question.) 20 33 2. Calculate both the Ending Inventory and Cost of Goods Sold using Periodic LIFO. 34 (Use cells A4 to D10 from the given information to complete this question.) 35 2. Calculate both the Ending Inventory and Cost of Goods Sold using Periodic LIFO. (Use cells A4 to D10 from the given information to complete this question.) 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. (Use cells A4 to D10 from the given information to complete this question.) A1 A B C \begin{tabular}{l|l|l} E & F & G \end{tabular} (Use cells A4 to D10 from the given information to complete this question.) Weighted Average Cost = per unit Weighted Average Ending Inventory 56 57 58 Weighted Average Cost of Goods Sold 60 61 \# of Units \begin{tabular}{|l|l|} \hline Cost per Unit & Total Cost \\ \hline \end{tabular} 62 63 4. Use the given information and your calculated numbers to complete the Cost of Goods Sold Equation below for 64 all three inventory methods. (All numbers should be positive.) 65 (Use cells A4 to D10 from the given information to complete this question.) 66 67