Question: I only need (1) answered. Please show work! I will upvote!! Purchases: Date Quantity Purchased Price 1/1/2021 BEGINNING BALANCE 48 $ 60.00 1/4/2021 60 $
I only need (1) answered. Please show work! I will upvote!!

Purchases:
| Date | Quantity Purchased | Price | |
| 1/1/2021 | BEGINNING BALANCE | 48 | $ 60.00 |
| 1/4/2021 | 60 | $ 75.00 | |
| 1/11/2021 | 75 | $ 54.00 | |
| 1/18/2021 | 30 | $ 123.75 | |
| 1/25/2021 | 120 | $ 41.25 | |
| 2/1/2021 | 60 | $ 78.75 | |
| 2/8/2021 | 90 | $ 56.70 | |
| 2/15/2021 | 30 | $ 129.94 | |
| 2/22/2021 | 105 | $ 43.31 | |
| 3/1/2021 | 60 | $ 82.69 | |
| 3/8/2021 | 75 | $ 59.54 | |
| 3/15/2021 | 30 | $ 136.44 | |
| 3/22/2021 | 120 | $ 45.48 | |
| 3/29/2021 | 90 | $ 45.48 | |
| 4/5/2021 | 60 | $ 86.82 | |
| 4/12/2021 | 105 | $ 62.51 | |
| 4/19/2021 | 30 | $ 143.25 | |
| 4/26/2021 | 75 | $ 47.75 | |
| 5/3/2021 | 60 | $ 91.16 | |
| 5/10/2021 | 120 | $ 65.64 | |
| 5/17/2021 | 30 | $ 150.41 | |
| 5/24/2021 | 90 | $ 50.14 | |
| 5/31/2021 | 105 | $ 50.14 | |
| 6/7/2021 | 60 | $ 95.72 | |
| 6/14/2021 | 75 | $ 68.92 | |
| 6/21/2021 | 30 | $ 157.94 | |
| 6/28/2021 | 120 | $ 52.65 | |
| 7/5/2021 | 60 | $ 100.51 | |
| 7/12/2021 | 90 | $ 72.37 | |
| 7/19/2021 | 30 | $ 165.84 | |
| 7/26/2021 | 105 | $ 55.28 | |
| 8/2/2021 | 60 | $ 105.54 | |
| 8/9/2021 | 75 | $ 75.99 | |
| 8/16/2021 | 30 | $ 174.14 | |
| 8/23/2021 | 120 | $ 58.05 | |
| 8/30/2021 | 90 | $ 58.05 | |
| 9/6/2021 | 60 | $ 110.82 | |
| 9/13/2021 | 105 | $ 79.79 | |
| 9/20/2021 | 30 | $ 182.85 | |
| 9/27/2021 | 75 | $ 60.95 | |
| 10/4/2021 | 60 | $ 116.36 | |
| 10/11/2021 | 120 | $ 83.78 | |
| 10/18/2021 | 30 | $ 191.99 | |
| 10/25/2021 | 90 | $ 64.00 | |
| 11/1/2021 | 60 | $ 122.18 | |
| 11/8/2021 | 105 | $ 87.97 | |
| 11/15/2021 | 30 | $ 201.60 | |
| 11/22/2021 | 75 | $ 67.20 | |
| 11/29/2021 | 120 | $ 67.20 | |
| 12/6/2021 | 60 | $ 128.29 | |
| 12/13/2021 | 90 | $ 92.37 | |
| 12/20/2021 | 30 | $ 211.68 | |
| 12/27/2021 | 105 | $ 70.56 |
Sales:
| Date | Quantity Sold | Price |
| 1/2/2021 | 24 | $ 174.00 |
| 1/5/2021 | 12 | $ 174.00 |
| 1/8/2021 | 30 | $ 174.00 |
| 1/11/2021 | 48 | $ 174.00 |
| 1/14/2021 | 36 | $ 174.00 |
| 1/17/2021 | 42 | $ 174.00 |
| 1/20/2021 | 21 | $ 174.00 |
| 1/23/2021 | 11 | $ 174.00 |
| 1/26/2021 | 26 | $ 174.00 |
| 1/29/2021 | 42 | $ 174.00 |
| 2/1/2021 | 32 | $ 174.00 |
| 2/4/2021 | 37 | $ 174.00 |
| 2/7/2021 | 24 | $ 174.00 |
| 2/10/2021 | 12 | $ 174.00 |
| 2/13/2021 | 30 | $ 174.00 |
| 2/16/2021 | 48 | $ 174.00 |
| 2/19/2021 | 36 | $ 174.00 |
| 2/22/2021 | 42 | $ 174.00 |
| 2/25/2021 | 21 | $ 174.00 |
| 2/28/2021 | 11 | $ 174.00 |
| 3/3/2021 | 26 | $ 174.00 |
| 3/6/2021 | 42 | $ 174.00 |
| 3/9/2021 | 32 | $ 174.00 |
| 3/12/2021 | 37 | $ 174.00 |
| 3/15/2021 | 24 | $ 174.00 |
| 3/18/2021 | 12 | $ 174.00 |
| 3/21/2021 | 30 | $ 174.00 |
| 3/24/2021 | 48 | $ 174.00 |
| 3/27/2021 | 36 | $ 174.00 |
| 3/30/2021 | 42 | $ 174.00 |
| 4/2/2021 | 21 | $ 174.00 |
| 4/5/2021 | 11 | $ 174.00 |
| 4/8/2021 | 26 | $ 174.00 |
| 4/11/2021 | 42 | $ 174.00 |
| 4/14/2021 | 32 | $ 174.00 |
| 4/17/2021 | 37 | $ 174.00 |
| 4/20/2021 | 24 | $ 174.00 |
| 4/23/2021 | 12 | $ 174.00 |
| 4/26/2021 | 30 | $ 174.00 |
| 4/29/2021 | 48 | $ 174.00 |
| 5/2/2021 | 36 | $ 174.00 |
| 5/5/2021 | 42 | $ 174.00 |
| 5/8/2021 | 21 | $ 174.00 |
| 5/11/2021 | 11 | $ 174.00 |
| 5/14/2021 | 26 | $ 174.00 |
| 5/17/2021 | 42 | $ 174.00 |
| 5/20/2021 | 32 | $ 174.00 |
| 5/23/2021 | 37 | $ 174.00 |
| 5/26/2021 | 24 | $ 174.00 |
| 5/29/2021 | 12 | $ 174.00 |
| 6/1/2021 | 30 | $ 174.00 |
| 6/4/2021 | 48 | $ 174.00 |
| 6/7/2021 | 36 | $ 174.00 |
| 6/10/2021 | 42 | $ 174.00 |
| 6/13/2021 | 21 | $ 174.00 |
| 6/16/2021 | 11 | $ 174.00 |
| 6/19/2021 | 26 | $ 174.00 |
| 6/22/2021 | 42 | $ 174.00 |
| 6/25/2021 | 32 | $ 174.00 |
| 6/28/2021 | 37 | $ 174.00 |
| 7/1/2021 | 24 | $ 233.00 |
| 7/4/2021 | 12 | $ 233.00 |
| 7/7/2021 | 30 | $ 233.00 |
| 7/10/2021 | 48 | $ 233.00 |
| 7/13/2021 | 36 | $ 233.00 |
| 7/16/2021 | 42 | $ 233.00 |
| 7/19/2021 | 21 | $ 233.00 |
| 7/22/2021 | 11 | $ 233.00 |
| 7/25/2021 | 26 | $ 233.00 |
| 7/28/2021 | 42 | $ 233.00 |
| 7/31/2021 | 32 | $ 233.00 |
| 8/3/2021 | 37 | $ 233.00 |
| 8/6/2021 | 24 | $ 233.00 |
| 8/9/2021 | 12 | $ 233.00 |
| 8/12/2021 | 30 | $ 233.00 |
| 8/15/2021 | 48 | $ 233.00 |
| 8/18/2021 | 36 | $ 233.00 |
| 8/21/2021 | 42 | $ 233.00 |
| 8/24/2021 | 21 | $ 233.00 |
| 8/27/2021 | 11 | $ 233.00 |
| 8/30/2021 | 26 | $ 233.00 |
| 9/2/2021 | 42 | $ 233.00 |
| 9/5/2021 | 32 | $ 233.00 |
| 9/8/2021 | 37 | $ 233.00 |
| 9/11/2021 | 24 | $ 233.00 |
| 9/14/2021 | 12 | $ 233.00 |
| 9/17/2021 | 30 | $ 233.00 |
| 9/20/2021 | 48 | $ 233.00 |
| 9/23/2021 | 36 | $ 233.00 |
| 9/26/2021 | 42 | $ 233.00 |
| 9/29/2021 | 21 | $ 233.00 |
| 10/2/2021 | 11 | $ 233.00 |
| 10/5/2021 | 26 | $ 233.00 |
| 10/8/2021 | 42 | $ 233.00 |
| 10/11/2021 | 32 | $ 233.00 |
| 10/14/2021 | 37 | $ 233.00 |
| 10/17/2021 | 24 | $ 233.00 |
| 10/20/2021 | 12 | $ 233.00 |
| 10/23/2021 | 30 | $ 233.00 |
| 10/26/2021 | 48 | $ 233.00 |
| 10/29/2021 | 36 | $ 233.00 |
| 11/1/2021 | 42 | $ 233.00 |
| 11/4/2021 | 21 | $ 233.00 |
| 11/7/2021 | 11 | $ 233.00 |
| 11/10/2021 | 26 | $ 233.00 |
| 11/13/2021 | 42 | $ 233.00 |
| 11/16/2021 | 32 | $ 233.00 |
| 11/19/2021 | 37 | $ 233.00 |
| 11/22/2021 | 24 | $ 233.00 |
| 11/25/2021 | 12 | $ 233.00 |
| 11/28/2021 | 30 | $ 233.00 |
| 12/1/2021 | 48 | $ 233.00 |
| 12/4/2021 | 36 | $ 233.00 |
| 12/7/2021 | 42 | $ 233.00 |
| 12/10/2021 | 21 | $ 233.00 |
| 12/13/2021 | 11 | $ 233.00 |
| 12/16/2021 | 26 | $ 233.00 |
| 12/19/2021 | 42 | $ 233.00 |
| 12/22/2021 | 32 | $ 233.00 |
| 12/25/2021 | 37 | $ 233.00 |
| 12/28/2021 | 24 | $ 233.00 |
| 12/31/2021 | 12 | $ 233.00 |
Excel Project \#1 Riddle's Radiantly Revitalized Robes purchases robes from suppliers, bedazzles them, and then sells to witches and wizards who truly want to stand out. Riddle uses a periodic inventory system and has hired you as a consultant to help with their inventory management and accounting. They have provided their inventory transactions for the past year (purchases and sales) and asked that you provide the following: (1) Ending inventory, Cost of Goods Sold, and Gross Profit for three different inventory costing methods (FIFO, LIFO and Average Cost) (3) Your recommendation of what inventory costing method they should use and WHY. Any additional insights you have would be greatly appreciated. sheets. An additional sheet is provided that you can use for doing any work, but you do not need to use that sheet. After completing the requirements below, save the file and submit on Canvas. Excel Project \#1 Riddle's Radiantly Revitalized Robes purchases robes from suppliers, bedazzles them, and then sells to witches and wizards who truly want to stand out. Riddle uses a periodic inventory system and has hired you as a consultant to help with their inventory management and accounting. They have provided their inventory transactions for the past year (purchases and sales) and asked that you provide the following: (1) Ending inventory, Cost of Goods Sold, and Gross Profit for three different inventory costing methods (FIFO, LIFO and Average Cost) (3) Your recommendation of what inventory costing method they should use and WHY. Any additional insights you have would be greatly appreciated. sheets. An additional sheet is provided that you can use for doing any work, but you do not need to use that sheet. After completing the requirements below, save the file and submit on Canvas
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
