4 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 3 Using Excel to Determine Ending Inventory PROBLEM 5 In its first month of operations, McLanie Company made 6 three purchases of merchandise in the following sequence: 7 8 Purchase $ Units Unit Cost 9 1 300 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: 15 16 Units on hand 200 17 18 19 20 21 22 Units 200 Unit Cost $ 9.00 Total Cost $ 1,800 FIFO Compute the cost of the ending inventory under the b. LIFO method Units 200 Unit Cost $ 6.00 Total Cost $ 1,200 LIFO 4 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 3 Using Excel to Determine Ending Inventory PROBLEM 5 In its first month of operations, McLanie Company made 6 three purchases of merchandise in the following sequence: 7 8 Purchase $ Units Unit Cost 9 1 300 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: 15 16 Units on hand 200 17 18 19 20 21 22 Units 200 Unit Cost $ 9.00 Total Cost $ 1,800 FIFO Compute the cost of the ending inventory under the b. LIFO method Units 200 Unit Cost $ 6.00 Total Cost $ 1,200 LIFO