1 Formula: Multiply; Cell Referencing 2 3 Using Excel to Determine Ending Inventory 4 5 In its first month of operations, McLanie Company made 7 PROBLEM 6 three purchases of merchandise in the following sequence: B Purchase $ Units Unit Cost 9 300 at $ 6.00 10 2 400 at $ 8.00 11 3 500 at $ 9.00 12 13 McLanie uses a periodic inventory system. It also provided 14 the following information: 200 Student Work Area Required: Provide input into cells shaded in yellow in this template. Use a cell references and mathematical formulas for calculations Compute the cost of the ending inventory under the a. FIFO method FIFO Units Unit Cost Total Cost 200 Compute the cost of the ending inventory under the b. LIFO method 15 16 Units on hand 17 10 19 20 21 22 23 Units Unit Cost Total Cost LIFO 200