Inventory Our Toy Store sells puzzles. Its best selling puzzles are large United States maps. The store uses the periodic method for accounting for inventory. Please design prepare from scratch a worksheet that will compute cost of goods sold, ending inventory and net income before taxes for January using LIFO, FIFO and average cost method for accounting for inventory. Please set up a worksheet in two parts. Part one should be a data section; the second part should compute cost of goods sold and ending inventory and finally, complete the grid on the right. Please be sure on your worksheet and use relative and absolute cell references to compute your answer for second and third part. Again, please make sure that you have NO numbers as entries. (13 points) Show your work!! Sales 100 puzzles at $50 each

Puzzles in beginning inventory Jan 1st: 20 at $16 Purchases -Jan 5 10 @ $21 Purchases- Jan 8 50 @ $24 Purchases -Jan 20 30 @ $25 Purchases -Jan 28 25 @ $30

	FIFO	LIFO	Average Cost
Sales
Cost of Goods Sold
Gross Profit
Ending Inventory