Transcribed image text : 121 A B C 1 Building Blocks of Managerial Accounting 2 Compute Cost of Goods Sold for a merchandiser 3 4 The following information is given for a retailer. 5 $5,900 Ending inventory Website maintenance $7,700 Revenues $67,000 $3,700 Freight-in $1,300 Import duties Marketing expenses $12,000 $1,500 Delivery expenses Purchases $40,000 14 Beginning inventory $3,800 15 16 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If 17 you copy/paste from the Instructions tab you will be marked wrong. 19 Requirement 20 Compute the cost of goods sold. a. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. b. Check your spelling carefully and do not abbreviate. C. Follow the format shown in Exhibit 2-14. For any labels that list more than one cost in one input cell, list the costs in the same order as in the exhibit. 23 24 25 Saving & Submitting Solution 26 1 Save file to desktop. 27 a. Create folder on desktop, and label COMPLETED EXCEL PROJECTS 28 2 Upload and submit your file to be graded. 29 a. Navigate back to the activity window-screen where you downloaded the initial spreadsheet Click Choose button under step 3; locate the file you just saved and click Open 30 b. 31 C. Click Upload button under step 3 Click Submit button under step 4 INSTRUCTIONS ENTERANSWERS 6789 10 11 12 13 PER AN P 18 21 22 32 33 34 Ready d. O E F B E (Always use cell references and formulas where appropriate to receive full credit. If you 1 copy/paste from the Instructions tab you will be marked wrong.) 2 3 Calculation of cost of goods sold 4 5 6 7 8 Cost of goods sold 9 10 11 12 13 14 15 16 17 18 19 20 21 22222723858 24 26 29 30 31