Function: MIN, SUM; Formula: Subtract; Cell Referencing

Using Excel to Calculate Depreciation

PROBLEM

Merrill Corporation has the following four items in its

ending inventory.

Student Work Area

Required: Provide input into cells shaded in yellow in this template.

Input the required mathematical formulas or functions with cell

references to the Problem area or work area as indicated.

Assume that Merrill is a public company using IFRS. Determine the

total value of ending inventory using the lower of cost and net

realizable value model applied on an individual item basis.

Would there be any difference in accounting if Merrill were a private

entity using ASPE?

ASPE requires