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I need help with the exact cell formulas for the ones I got wrong. A company provides the following inventory records. begin{tabular}{|lr|} hline Number of
I need help with the exact cell formulas for the ones I got wrong.
A company provides the following inventory records. \begin{tabular}{|lr|} \hline Number of units sold = & 8,500 \\ \hline Selling price per unit = & $30.00 \\ \hline \end{tabular} Required: 1. Based on the information given above, calculate cost of goods sold and ending inventory using the FIFO method. 2. Calculate cost of goods sold and ending inventory using the LIFO method. 3. Calculate cost of goods sold and ending inventory using the Weighted Average Method. 4. Calculate gross profit under all three methods. Requirement 1: Cost of Goods Sold and Ending Inventory under FIFO (Use cells A2 to E12 from the given information above to complete this question. To calculate the number of units sold within each batch, use the MIN function.) Requirement 2: Cost of Goods Sold and Ending Inventory under LIFO (Use cells A2 to E12 from the given information above to complete this question. To calculate the number of units sold within each batch, use the MIN function.) (b) Calculate cost of goods sold and ending inventory using the weighted-average method. (Use cells A2 to E12 from the given information above to complete this question. In your formula, use cell B44 for the weighted-average unit cost.)Step by Step Solution
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