Home Insert Formulas Data Review View Tell me Draw Page Layout Calibri (Body) 11 Wrap Text General Paste B il Merge & Center $ % 9 AB 2 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 Pro, UFO, 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 property 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 6 Portlased on your calculations in part 2 determine the impact on cost of goods sold if the inventory is understated 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 210 Excel Inventory Valuation Spreadsheet Fall View Tell me Home Insert Draw Page Layout Formulas Data Review 11 == Wrap Text General Calibri (Body) BI A Paste V 23 Merge & Center $ % ) M4 M Sales S/unit Sold Total Sales Dollars Units Sold Activity Beginning inventory Purchase Purchase Sales Purchase Purchase Units Cost/Unit Total Cost Acquired Acquired Acquired 300 50.00 200 51.00 300 52.00 400 80 32000 500 400 52.00 53.00 300 NO 24000 Date 2 Jan Jan 10-Jan 5 14 Jan 6 16 Jan 7 20 Jan & 31 Jan 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Sample Problem - Ch 05 Exer 5-18 Inventory Inv Cost/ Units Unit Selling Total Cost Units Sold Price/Unit Date Activity 40 2 80 30 70 3 210 60 00 1-Jan Beginning Inventory 3-Jan Sales 14-Feb Purchase 15-Feb Sales 30-Jun Purchase 6-Nov Sales 19-Nov Purchase 90 4 360 86 so 10 20 220 200 850 176 Purchases Cost/unit. Tot Cost Units Cost of sales Cost/Unit FIFO: Activity Units 30 2 9.Jan Beginning Inventory 3-Jan Sales 14-Feb Purchase 15-Feb 70 3 210 10 50 2 3 90 4 360 30-Jun Purchase 6-Nov Sales 3 20 66 4 20 10 200 19-Nov Purchase Sample Problem - Ch 05 Exer 5-18 Purchases Cost/unit Tot Cost Units Cost of sales Cost/Unit UFO: Activity Units 30 2 9-Jan Beginning Inventory 3-Jan Sales 14-Feb Purchase 15-Feb Sales 70 3 210 60 90 360 30-Jun Purchase 6-Nov Sales 86 19-Nov Purchase 2010 200 176 > Sample Problem - Ch 05 Exer 5-18 Total Sales 240 480 688 Inventory Cost/Unit Total Cost Purchases Cost/unit Tot Cost Units Cost of sale Cost/Unit Total Cost Units Units 60 2 2 3 80 20 210 3 40 10 70 0 20 90 70 90 20 4 10 210 360 200 20 150 3 4 60 360 60 264 40 70 66 2 3 4 24 20 4 10 96 200 44 296 176 554 Sample Problem - Ch 05 Exer 5-18 Inventory Cost/Unit Total Cost Total Cost Units 40 60 180 10 70 10 10 90 10 10 ANNNN 80 600 210 20 30 360 20 30 16 344 20 10 200 584 44 266