Formula: Multiply; Cell Referencing

Using Excel to Determine Ending Inventory

PROBLEM

In its first month of operations, McLanie Company made three purchases

of merchandise in the following sequence:

McLanie uses a periodic inventory system. It also provided the following

information:

Units on hand

$200$

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

Compute the cost of the ending inventory under the

b$.$ LIFO method