We want a function that $($a$)$ references

Inv$\_$Num to determine the Inventory$\_$Class $($C$,$ J$,$ N$,$ X$),($b$)$ applies criteria to determine if

the purchase qualifies for any promotion, and if so$,($c$)$ determine the amount of the

promotion. We can use a combination of the ISNUMBER and SEARCH functions to search

each Inv$\_$Num for the letter $($C$,$ J$,$ N$,$ X$)$ corresponding to the Inventory class. Use the

following logic steps for the function in this column.

a$.$ Row $1$: Begin with an IF statement, and use ISNUMBER$($SEARCH$()$ to reference

Inv$\_$Num to determine if it contains $$C$$

i$.$ If true, then embed another IF statement to test the promotion criteria, i$.$e$.$ IF

SO$\_$Total $>=15,000$

$1.$ If true, then the promotion is $8\%$ multiplied by SO$\_$Total

$2.$ If false, the promotion is zero

ii$.$ If false $($i$.$e$.,$ if Inv$\_$Num does not contain $$C$)...$

b$.$ Row $2$: Begin with an IF statement, and use ISNUMBER$($SEARCH$()$ to reference

Inventory # to determine if it contains $$J$$

i$.$ If true, then embed another IF$($AND$()$ statement to test the promotion criteria,

i$.$e$.$ IF SO$\_$Total $>=30,000$ AND SO$\_$Date is $>=$ the Start Date of the

promotion AND SO$\_$Date is $<=$ the End Date of the promotion. $($Refence the

dates in the $$Promotions$$ Worksheet $[$absolute references!!$],$ or type in the

dates manually$)$

TAYLOR, INC. Exercise: Revenue Recognition w$/$ Promotional Sales

$1.$ If true, then the promotion is $6\%$ multiplied by SO$\_$Total

$2.$ If false, the promotion is zero

ii$.$ If false $($i$.$e$.,$ if Inv$\_$Num does not contain $$J$)...$

c$.$ Row $3$: Begin with an IF statement, and use ISNUMBER$($SEARCH$()$ to reference

Inventory # to determine if it contains $$N$$

i$.$ If true, then embed another IF$($AND$()$ statement to test the promotion criteria,

i$.$e$.$ IF Quantity $>=300$ AND SO$\_$Date is $>=$ the Start Date of the promotion

AND SO$\_$Date is $<=$ the End Date of the promotion

$1.$ If true, then the promotion is $5\%$ multiplied by the SO$\_$Total

$2.$ If false, the promotion is zero

ii$.$ If false $($i$.$e$.,$ if Inv$\_$Num does not contain $$N$)...$

d$.$ Row $4$: Begin with an IF statement, and use ISNUMBER$($SEARCH$()$ to reference

Inventory # to determine if it contains $$X$$

i$.$ If true, then embed another IF$($AND$()$ statement to test the promotion criteria,

i$.$e$.$ IF Quantity $>=400$ AND SO$\_$Date is $>=$ the Start Date of the promotion

AND SO$\_$Date is $<=$ the End Date of the promotion

$1.$ If true, then the promotion is $3\%$ multiplied by the SO$\_$Total

$2.$ If false, the promotion is zero

ii$.$ If false, return a value of zero.

$($Note: You need a final returned value of zero for $$if false$$ outside of the final logic

statement, followed by several closed parentheses$)$