Needs to answer all 3 components in excel, must show formulas please!
ACC310-Intermediate Accounting 1-Fa19 Case Assignment #4 Case #4 - Chapter Eight Material - 30 points Smith Company started the month of March, 2018 with 7,550 units of product X, with a cost of $16.50 per unit. Merchandise transactions for the month of March 2018 are as follows: Purchase Transactions Purchase Units Cost per Unit Sale Sales Transactions Units Price Mar 6 6,275 $ 16.78 Mar 4 6,350 $ Mar 9 32.75 6,850 $ 17.20 Mar 8 6,235 $ 34.25 Mar 21 7,210 $ 16.85 Mar 15 5,835 $ 36.10 Mar 28 7,250 $ 38.50 Based on the information provided, develop a spreadsheet in Excel that calculates and displays in a proper manner (tables showing the "in's and out's' of the quantities) the following results: 1. FIFO, using the perpetual system a. Ending inventory value - 3 pts b. Cost of goods sold - 2 pts c. Gross profit - 3 pts 2. LIFO, using the perpetual system a. Ending inventory value - 3 pts b. Cost of goods sold - 2 pts c. Gross profit - 3 pts 3. Average cost, using the perpetual system a. Ending inventory value - 3 pts b. Cost of goods sold - 2 pts c. Gross profit - 3 pts Note: For Average Cost, do not round calculations - let Excel do the valuing of the inventory. However, you must present the cost / sales data in dollars and cents. ACC310-Intermediate Accounting 1-Fa19 Case Assignment #4 Case #4 - Chapter Eight Material - 30 points Smith Company started the month of March, 2018 with 7,550 units of product X, with a cost of $16.50 per unit. Merchandise transactions for the month of March 2018 are as follows: Purchase Transactions Purchase Units Cost per Unit Sale Sales Transactions Units Price Mar 6 6,275 $ 16.78 Mar 4 6,350 $ Mar 9 32.75 6,850 $ 17.20 Mar 8 6,235 $ 34.25 Mar 21 7,210 $ 16.85 Mar 15 5,835 $ 36.10 Mar 28 7,250 $ 38.50 Based on the information provided, develop a spreadsheet in Excel that calculates and displays in a proper manner (tables showing the "in's and out's' of the quantities) the following results: 1. FIFO, using the perpetual system a. Ending inventory value - 3 pts b. Cost of goods sold - 2 pts c. Gross profit - 3 pts 2. LIFO, using the perpetual system a. Ending inventory value - 3 pts b. Cost of goods sold - 2 pts c. Gross profit - 3 pts 3. Average cost, using the perpetual system a. Ending inventory value - 3 pts b. Cost of goods sold - 2 pts c. Gross profit - 3 pts Note: For Average Cost, do not round calculations - let Excel do the valuing of the inventory. However, you must present the cost / sales data in dollars and cents