Question: Random, Inc. uses a PERPETUAL inventory system and has provided the following information: Chapter & Course Outcomes: (to be demonstrated in this project) REQUIRED FOR
Random, Inc. uses a PERPETUAL inventory system and has provided the following information: Chapter & Course Outcomes: (to be demonstrated in this project) REQUIRED FOR POINTS: Calculate Cost of Goods Sold and Ending Inventory using 3 costing methods in the perpetual system of inventory. 1 Complete the master inventory record for the 'warehouse' using math functionality. Write sum/math formulas to complete missing amounts. Analyze the impact on the financial statements of each inventory costing method and system of inventory. MASTER INVENTORY RECORD Location (Shelves) # of Units Cost per unit Total cost Use Microsoft Excel proficiently to record and summarize information used in business analysis and decision making. Beginning inventory 20 $ 24.00 Jan 10 purchase 30 $ 25.00 Jan 22 purchase 35 $ 28.00 Jan 25 purchase 30 $ 30.00 Jan 30 purchase 15 $ 31.00 Available Inventory January 24 Sales 61 each method calculation *Use Learning resources (Slides) & Ebook Ch 7 Ending Inventory is on schedule below 2 Complete the inventory costing schedules documenting each possible detail (shelf/purchase date) that existed at the time in the calculation of BOTH ending inventory and cost of goods sold. Use math formulas for calculations and reference/link to the master record for each detail. Making connections to the Master Inventory Record allows the worksheet to be used for analyzing po
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