Weighted Average Cost Analysis Using Excel Completing this actirity all helo you learn to: 1. andree the cost of invereory items based on the weighed-average method. 2. create a re rusabie spreadshet by using calodiations with celi references. 3. create sorebascets that incorporate conditional logic to factitate calculations. Required: X HIWT: STEP-HY-STE WAKTHROUGH inventory total cost and weighted-average cost. To accomplish this task, complete the following steps: 1. In 6 , create an if statement that wal be equal to 1 if 83 is a purchase and equal to -1 if 103 is a sale. ii. In F3, oreate an if statement that wil be equal to 1 if B3 is a purchase and othernike. ii. In G3, oreate an if statement that wil be equal to 1083 is a sale and 0 otherwite. c. Find inventory cost: 1. In 13, if 83 is a furchese, the cost of the purchase =C3+D3. Otherwise, 0 , c. Find invertory cost: L. In 13, if 83 is a purchase, the cost of the purchase =C3*D3. Otherwise, 0 . ii. In 13 , if 83 is a sale, the cest of the sale =C3+2. Ceherwise, 0 . Isnt: We use L2 an the unt cost because the amount in L2 is the starting weighted-average cost. iil. In K3, the updated inventery cost =K2+1313. d. Weighted Average Cost in 13 - Invenbory Total Cost/Units on hand. intermediate calculations. Reund your answes to the nearent cent. 2. Explain how congitional loge as used in this soceadsheet and how it might be done differently. The inout in the box below mir not be araded, but may be reviewed and consibered by your instructor