Auto save Simon TH12 56.4 Start - Read-Only - Excel Search Home Insert Page Layout Formulas Data Review View Help B1 ho K L D E H 1 Inventory and cost of Goods Sold 2 Apply the average-cost, FIFO, and LIFO methods 3 4 Carson Print Supplies, Inc., sells laser printers and supplies. The following data is given for the current year. 5 Description Units Average.Cost FIFO Cost LIFO Cost 6 Per Unit Per Unit Per Unit 7 Beginning inventory 100 $ 8.90 $ 9.00 $ 7.80 8 Purchases 800 $ 9.80 Cost per unit 10 Sales 600 $ 21.50 Sales price per unit 9 za 12 Operating expenses $ 4.000 13 14 Use the blue shaded areas on the ENTERANSWERS tab for inputs. 15 Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 16 Instructions tab you will be marked wrong 17 16 Requirement 19 1 Begin by calculating the average cost per unit to be used in the Average-cost income statement 20 2 Prepare Carson's income statement for the current year ended December 31 using the average-cost, FIFO, and 21 LIFO methods. Include a complete statement heading. a Check your spelling carefully and do not abbreviate 23 10 PM Enter all amounts as positive values. Do not use a minus signor parentheses for any values to be subtracted Ignore income taxes for this exercise INSTRUCTIONS ENTERANSWERS 7 2 S 3 7 ( 9 5 3 6 & 7 8 9 O Q E R T Y U 4. F G H Isllo zxc DO 1 0 AutoSave Simon_TTH13 56.4 Start - Read-Only - Excel Search File Home Insert Page Layout Formulas Data Review View Help F3 o G H 1 1. Begin by calculating the average cost per unit to be used in the Average-cost Income statement. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 2 Instructions tab you will be marked wrong.) 3 4 Average cost per unit 5 2. Prepare Carson's income statement for the current year ended December 31 using the average-cost, 6 FIFO, and LIFO methods. Include a complete statement heading. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 7 Instructions tab you will be marked wrong. Use cell references from prior calculations, if applicable) 8 9 Average-cost FIFO LIFO 10 11 12 33 14 15 16 17 Net Income 19 20 21 1:09 PM INSTRUCTION ENTERANSWERS $ C 7 32 3 2 5 6 & 7 8 9 O W E R T Y U o S D F G H J L