Question: PROBLEM Required: Provide input into cells shaded in yellow in this template.Use only mathematical formulas with cell references to compute the unit cost and the

PROBLEM

Required: Provide input into cells shaded in yellow in this template.Use only mathematical formulas with cell references to compute the unit cost and the cost of ending inventory.

In its first month of operations, McLanie Company made three purchases. Information concerning these purchases and units on hand are:

Units

Cost per Unit

Compute the cost of the ending inventory under the average-cost method in a periodic inventory system.

300

$ 6.00

400

8.00

500

9.00

Weighted-average unit cost

Units on hand at period end

200

Round unit cost to 3 decimals using the ROUND function

Purchases of merchandise were made in the sequence listed above.

Cost of ending inventory

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