XH ? - FILE HOME INSERT Inventory costing methods - Excel FORMULAS DATA REVIEW PAGE LAYOUT VIEW Sign In Calibri - 11 A A % Paste BTU - Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font B24 X E F A B D 19 44 $ 1.232.00 20 21 FIFO Cost of Goods Sold 22 Description # of Units Cost per Unit Total Cost 23 Beginning Inventory 20$ 20.00 $ 400.00 24 Jan. 15 Purchase E 25 36 26 27 2) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic LIFO. 28 29 LIFO Ending Inventory 30 Description # of Units Cost per Unit Total Cost 31 Beginning Inventory 32 Jan. 15 Purchase 33 44 34 35 LIFO Cost of Goods Sold 36 Description # of Units Cost per Unit Total Cost 37 Jan. 20 Purchase 2 T 16A 5 Inventory costing methods - Excel ? FILE INSERT HOME PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In X Calibel 11 % ALA A. Paste 1 Alignment Number Cells Editing Conditional Format as Cell Formatting Table Styles Styles Clipboard Font B24 X A F B D E per unit 46 Average Cost = Number of Units Available for Sale 47 48 Weighted Average Ending Inventory 49 # of Units Cost per Unit Total Cost 50 51 52 Weighted Average Cost of Goods Sold 53 # of Units Cost per Unit Total Cost 54 55 56 4) Use the given information and your calculated numbers to complete the Cost of Goods Sold 57 Equation below for all three inventory methods. (All numbers should be positive.) 58 FIFO LIFO Wtd. Avg. 59 Beginning Inventory 60 Add: Purchases 61 Goods Available for Sale 62 Less: Ending Inventory 63 Cost of Goods Sold 64 65 1. Calculate cost of ending inventory and cost of goods sold using periodic FIFO, LIFO, and Weighted Average Cost methods. Inventory costing methods - Excel 7 FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW X Calibri 11 -AA Paste B TV Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard font Styler f Better Bottles, Inc., uses a periodic inventory system and has the following A D Better Bottles, Inc., uses a periodic inventory system and has the following information available: 2 3 Description #of Units Cost per Unit Total Cost 4 Beginning Inventory 201$ 20.00 S 400.00 5 Jan. 15 Purchase 27 22.00 594.00 6 Jan. 20 Purchase 33 3000 990.00 7 Goods Available for Sale 80 $ 1.984.00 * Leus: January Sales 36 9 Ending Inventory 44 10 11 12 Required: 13 ) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO 14 15 FIFO Ending Inventory 16 Description it or Units Cost per Unit Total Cost nu Saved Cells Paste > Editing BIU Alignment Number Conditional Format as Cell Formatting" Table Styles Styles Clipboard Font Better Bottles, Inc., uses a periodic inventory system and has the following E F A B D 1 Better Bottles, Inc., uses a periodic inventory system and has the following information available: 2 3 Description # of Units Cost per Unit Total Cost 4 Beginning Inventory 201$ 20.00 $ 400.00 5 Jan. 15 Purchase 27 22.00 594.00 6 Jan. 20 Purchase 33 30.00 990.00 7 Goods Available for Sale 80 $ 1.984.00 8 Less: January Sales 361 9 Ending Inventory 44 10 11 12 Required: 13 ) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO. 14 15 FIFO Ending Inventory 16 Description # of Units Cost per Unit Total Cost 17 Jan. 20 Purchase 33 $ 30.00 $ 990.00 18 Jan. 15 Purchase 11 22.00 242.00 19 44 $ 1.232.00 20 21 FIFO Cost of Goods Sold 22 Description # of Units Cost per Unit Total Cost 23 Beginning Inventory 201$ 20.00 $ 400.00 Sheet1 READY + 100%
