Question
You work for Dreams Home Furnishing an online retailer of home furniture. Your manager wants to know the profit potential of their inventory based on
You work for Dreams Home Furnishing an online retailer of home furniture. Your manager wants to know the profit potential of their inventory based on the items in inventory listed in Table 1. The required formulas are shown in Table 2. Use the formula to create and format the worksheet. The company just received 17 additional lift chair and shipped out 50 arm chairs. a) Update the appropriate cells to reflect the change in inventory. (3 Marks) b) Total of total cost, unit price, total value, and potential profit. Use accounting number format style with fixed dollar or RM sign with two decimal places. (6 Marks) c) Average of total cost, unit price, total value and potential profit. Use currency format with floating decimal places. (5 Marks) d) Lowest and highest of unit cost, total cost, unit price, total value and potential profit. (5 Marks) e) Name your sheet tab as Profit Potential Data. Attach your answer with embed excel worksheet to Microsoft Word as an object. (1 Mark) Table 1 Dreams Home Furniture Profit Potential Data Item Units on Hand Unit cost Coffee table 100 RM39.90 Lift chair 150 RM432.50 Arm chair 300 RM120.00 Bean bag 69 RM78.90 Bar stool 85 RM81.60 Table 2 Dreams Home Furniture Inventory Profit Potential Formulas Total of Total Cost = Units on Hand X Unit Cost Total of Unit Price = Unit cost x (1 / (1-0.66) Total of Total Value = Units on Hand X Unit Price Total of Potential Profit = Total Value Total Cost Average = AVERAGE function Maximum = MAX function Minimum = MIN function.
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