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Help with putting into excel Using LIFO FIFO WEighed avg Excel Project Pt2: Inventory Valuation Methods The assumptions are provided at the top of the
Help with putting into excel
Using LIFO FIFO WEighed avg
Excel Project Pt2: Inventory Valuation Methods The assumptions are provided at the top of the Calculations worksheet. In making the calculations in each step link to the assumptions. All calculations should be make using formulas in the cells. Part 1. Using the information provided on the Calculations tab calculate the cost of goods and ending inventory using each of the following methods FIFO, LIFO, and weighted average. The calculations should be in the same format that I use in my video sample problem. Provide proper headings and format the numbers properly. Part 2. To check your work you need to make a table calculating the cost of goods sold based on the beginning inventory, purchases, and ending inventory. You need to make these calculations based on your calculations in step 1. Use the formula provided in your text book on page 201. You should subtotal to get the goods available for sale in your tabular form. Part 3. Based on your calculations in part 2 determine the impact on cost of goods sold if the inventory is understated. Sales $/Unit Total Sales Sold Dollars Date Units Sold Units Cost/Unit Total Cost Acquired Acquired Acquired 300 50.00 200 51.00 300 52.00 1-Jan 6-Jan 10-Jan 14-Jan 16-Jan 20-Jan 31-Jan Activity Beginning Inventory Purchase Purchase Sales Purchase Purchase Sales 400 80 32000 500 400 52.00 53.00 300 80 24000Step by Step Solution
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