Question: Please make a complete solution in Excel and give the formula way of the solution, so that I can understand the solution that you give.

 Please make a complete solution in Excel and give the formula

Please make a complete solution in Excel and give the formula way of the solution, so that I can understand the solution that you give. Thanks

Melisa's record of transactions concerning part X for the month of September was as follows. Purchases Sales April 1 (balance on hand) 100 @ $5.00 April 5 300 4 400 @ 5.10 12200 11 300 @ 5.30 27 800 18 200 @ 5.35 28 150 26 600 @ 5.60 30 200 @ 5.80 Required: a. Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (Carry unit costs to the nearest cent.) 1. Specific identification; ending inventory is comprised of 100 units from beginning inventory and 250 units from the April 26 purchase. 2. First-in, first-out (FIFO). 3. Average-cost. b. If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would be shown as ending inventory in 1, 2, and 3 above? Explain the result! (Carry average unit costs to four decimal places, and total costs to two decimal places.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!