Use the following information for Goldberg Company for the year ended Dec. 31, 2019 to complete Sheets 1 - 3:

Jan 1 Beginning inventory 7,400 units @ $6 cost per unit

Mar 5 Purchase 13,000 units @ $8 cost per unit

Apr 17 Sale 10,000 units @ $19 selling price per unit

Sept 7 Purchase 15,400 units @ $10 cost per unit

Nov 11 Sale 18,000 units @ $19 selling price per unit

Dec 21 Purchase 6,600 units @ $12 cost per unit

Dec 29 Sale 6,000 units @ $19 selling price per unit

1: Avg Cost - You will prepare a schedule showing Cost of Goods Available for sale and the units in Ending Inventory, using the above information. You will calculate ending inventory using a periodic system and the weighted average method. You will also prepare an income statement and a partial balance sheet.

1) Create a schedule showing Goods available for sale in units and cost and the units in Ending Inventory, based on the following Example:

Date

# of units

Unit Cost

Total cost

?

Beginning inventory

?

?

?

?

Purchase

?

?

?

?

Purchase

?

?

?

?

Purchase

?

?

?

Goods available for sale

?

?

Units sold

?

units in ending inventory

Units in ending Copy this schedule showing Goods Available for sale and ending inventory and paste it into Sheet 2 (FIFO) and Sheet 3 (LIFO) at cell A1.

2) Below the schedule, compute the weighted average cost per unit. Use formulas in your computation. You must label the amount as Weighted Average Cost per unit.

3) Below the weighted average cost per unit, compute the cost of ending inventory using

the units in ending inventory calculated in Instruction 1)

the weighted average cost per unit calculated in instruction 2).

Use formulas in your computation. Label the amount Ending Inventory.

4) Below the computation of the cost of ending inventory, calculate cost of goods sold. Label the amount Cost of Goods Sold.

Open Excel and click on 'Blank Workbook'. You will use this file to complete the assignment. which will require you to use 3 sheets in the Excel file to perform inventory calculations and prepare financial statements. Step 1: Name the sheets as follows: Sheet 1: Avg Cost Sheet 2: FIFO Sheet 3: LIFO Use the following information for Goldberg Company for the year ended Dec 31, 2019 to complete Sheets 1 - 3 Jan 1 Beginning inventory 7,400 units $6 cost per unit Mar 5 Purchase 13,000 units $8 cost per unit Apr 17 Sale 10,000 units $19 selling price per unit Sept 7 Purchase 15,400 units @ $10 cost per unit Nov 11 Sale 18,000 units selling price per unit Dec 21 Purchase 6,600 units $12 cost per unit Dec 29 Sale 6,000 units @ $19 selling price per unit $19 Sheet 1: Avg Cost - You will prepare a schedule showing Cost of Goods Available for sale and the units in Ending Inventory, using the above information. You will calculate ending inventory using a periodic system and the weighted average method. You will also prepare an income statement and a partial balance sheet. 1) Create a schedule showing Goods available for sale in units and cost and the units in Ending Inventory based on the following example Example: # of units Unit Cost Total cost Date Beginning inventory Purchase Purchase Purchase Goods available for sale Units sold Units in ending inventory Copy this schedule showing Goods Available for sale and ending inventory and paste it into Sheet 2 (FIFO) and Sheet 3 (LIFO) at cell A1. 2) Below the schedule, compute the weighted average cost per unit. Use formulas in your computation. You must label the amount as "Weighted Average Cost per unit." 3) Below the weighted average cost per unit, compute the cost of ending inventory using the units in ending inventory calculated in Instruction 1) . the weighted average cost per unit calculated in instruction 2). Use formulas in your computation. Label the amount 'Ending Inventory.' 4) Below the computation of the cost of ending inventory, calculate cost of goods sold. Label the amount 'Cost of Goods Sold.' 5) Prepare a multiple step Income Statement in good form, using columns 1 and J, starting in Row 1 Start with the heading. Put the titles in Column I and the amounts in Column J. You must use Excel to compute Sales Revenue. Use a formula with a cell reference to the cost of goods sold amount that you calculated in Instruction 4). Assume Operating Expenses are $187,340 and there are no other income or expenses. Copy the income statement and paste it into columns 1 and starting on row 1 on Sheet 2 (FIFO) and Sheet 3 (LIFO). You will update the Cost of Goods Sold amount when you work on those sheets 7) Prepare a partial balance sheet, showing the Current Assets section, using columns L and M., starting on Row 1 Start with the heading Use column L to enter the titles, and use column M to enter the amounts, Assume Cash = 45,182, Accounts Receivable = 18,650, Prepaid Insurance = 3,600 Use a formula with a cell reference to the balance of Merchandise Inventory that you calculated in Instruction 3). C . Search the web. (MW - AA EE. 9. E AD . et 4 Copy the balance sheet and paste cours and and Sheet3 UFO) You will update the Merchande r starting row 1. on Sheet 2 (FIFO) mount when you work on Sheet2 - FIFO: You will calculate ending inventory using a periode system and the FIFO method You will prepare an income statement and a partial lance sheet This sheet should have the schedule of Good aviate for sale since the you to copy there from Sheet 1. Avg Cost structions required 1) Below the schedule of Goods available for sale and unitsin ending vertory, compute the cost of ending inventory using FIFO. Use formules in your computation Label the amount Ending Inventory 2) Below the computation of the cost of ending inventory, calculate cost of goods sold using FIFO Use formulas in your computation Label the amount Cost of Goods Sold 3) Update the income statement using a formula with a cell reference to the cost of goods sold calculated in instruction 2)