Hello , how is this completed in Excel? Thank you
File Home Insert Page Layout Formulas Data Review View Help B1 D E 1 Inwentor and Cost of Goods Sold 2 Apply the average-cost, FIFO, and LIFO methods 3 4 Carson Print Supplies, Inc., sells laser printers and supplies. The following data is given for the current year. 5 Description Units Average Cost FIFO Cost LIFO Cost Per 6 Per Unit Per Unit Unit 7 Beginning inventory 100 $ 8.90 $ 9.00 $ 7.80 8 9 Purchases 800 $ 9.80 Cost per unit 10 Sales 600 $ 21.50 Sales price per unit 11 12 Operating expenses $ 4,000 13 14 Use the blue shaded areas on the ENTERANSWERS tab for inputs. 15 Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 16 Instructions tab you will be marked wrong. 17 18 Requirement > 19 i Begin by calculating the average cost per unit to be used in the Average cost income statement, 20 2 Prepare Carson's income statement for the current year ended December 31 using the average-cost, FIFO, and LIFO 21 methods. Include a complete statement heading. 22 a. Check your spelling carefully and do not abbreviate. 23 b. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. 24 c. Ignore income taxes for this exercise. Use cell references from prior calculations, if applicable 26 20 27 INSTRUCTIONS ENTERANSWERS d. Read (hp) $ 2 3 96 5 6 & 7 8 9 E R. T Y U O P : Simon Thize, so t Start Read On - tesel File Home Insert Page Layout Formulas Data Review View Help A9 X H D 1 1. Begin by calculating the average cost per unit to be used in the Average cost Income statement. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 2 Instructions tab you will be marked wrong.) 3 4 Average cost per unit 5 2. Prepare Carson's income statement for the current year ended December 31 using the average-cost, 6 FIFO, and LIFO methods. Include a complete statement heading (Always use cell references and formulas where appropr to receive full credit. If you copy/paste from the 7 Instructions tab you will be marked wrong. Use cell references from prior calculations, if applicable.) 10 Average-cost FIFO LIFO 2 12 13 14 15 16 17 Net Income 18 19 20 21 1:54 PM 22 716/2020 INSTRUCTIONS ENTERANSWERS Ready 2 3 $ 4 % 5 6 & 7 00 9 o w E R T Y U o P 1 1. Begin by calculating the average cost per unit to be used in the Average-cost Income stateme (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste fi 2 Instructions tab you will be marked wrong.) 3 4 Average cost per unit 5 2. Prepare Carson's income statement for the current year ended December 31 using the average 6 FIFO, and LIFO methods. Include a complete statement heading. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste fre 7 Instructions tab you will be marked wrong. Use cell references from prior calculations, if applicable.) 8 9 10 Carson Print Supplies, Inc Income Statement 11 December 31, Current Year Year Ended December 31. Current Year 12 Average cost 13 TIFU LIFU 14 ? > 15 16 17 Net Income 18 19 20 21 1:55 PM 22 10/16/2020 INSTRUCTIONS ENTERANSWERS D Ready hp * 10 # 3 $ 4 % 5 & 7 2 6 8 Talwlle R. T Y
