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Please enter all answers as excel formulas. Thank you! :) The question has 4 spets. nventory costing methods 1. Calculate cost of ending inventory and
Please enter all answers as excel formulas. Thank you! :) The question has 4 spets.
nventory costing methods 1. Calculate cost of ending inventory and cost of goods sold using periodic FIFO, LIFO, and Weighted Average Cost methods. Required: 1) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO. \begin{tabular}{|c|c|c|c|} \hline \multicolumn{3}{|c|}{ FIFO Ending Inventory } & \multirow[b]{2}{*}{ Total Cost } \\ \hline Description & \# of Units & Cost per Unit & \\ \hline Jan. 20 Purchase & 33 & 30.00 & 990.00 \\ \hline \multirow[t]{2}{*}{ Jan. 15 Purchase } & =B17B19 & 22.00 & 242.00 \\ \hline & \multicolumn{2}{|l|}{44} & 1,232.00 \\ \hline \multicolumn{4}{|c|}{ FIFO Cost of Goods Sold } \\ \hline Description & # of Units & Cost per Unit & Total Cost \\ \hline Beginning Inventory & \multicolumn{2}{|l|}{20} & \\ \hline \multirow[t]{2}{*}{ Jan. 15 Purchase } & =B18 & & \\ \hline & \multicolumn{2}{|l|}{36} & \\ \hline \end{tabular} 2) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic LIFO. 3) Using Periodic Weighted Average, first calculate the cost per unit using the formula below. Next, apply that same cost per unit to calculate both the Ending Inventory and Cost of Goods Sold. \begin{tabular}{|c|c|c|c|c|} \hline \\ \hline & & & & \\ \hline & & & & \\ \hline Weighted & \multicolumn{2}{|c|}{ Cost of Goods Available for Sale } & & \\ \hline Average cost = & \multicolumn{2}{|c|}{ Number of Units Available for Sale } & = & per unit \\ \hline & & & & \\ \hline & \multicolumn{3}{|c|}{ Weighted Average Ending Inventory } & \\ \hline & \# of Units & Cost per Unit & Total Cost & \\ \hline \multicolumn{5}{|l|}{30} \\ \hline & & & & \\ \hline & \multicolumn{3}{|c|}{ Weighted Average Cost of Goods Sold } & \\ \hline & # of Units & Cost per Unit & Total Cost & \\ \hline & & & & \\ \hline \end{tabular} 56 4) Use the given information and your calculated numbers to complete the Cost of Goods Sold 57 Equation below for all three inventorv methods. (All numbers should be positive.)Step by Step Solution
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