Please see below. I really need help with this. I have tried the formula shown and the sumproduct formula and both times the top box comes back as incorrect. I know that the answer is correct, but I need to know exactly how to put the correct formula in there using cell referencing. PLEASE HELP!!!!!!!!! M12x v fx =(E10*C10+E11*C11+E12*C12)/(C10+C11+C12)ACD EFH.N1Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing23 Using Excel to Cost InventoryStudent Work Area4PROBLEM5 In its first month of operations, McLanie Company made three purchases.6 Information concerning these purchases and units on hand are:Required: Provide input into cells shaded in yellow in this template.Use onlymathematical formulas with cell references to compute the unit cost and thecost of ending inventory.8UnitsCost per Unit$ 6.009.Compute the cost of the ending inventory under the average-cost method ina periodic inventory system.10300114008.00125009.00IncorrectWeighted-average unit cost$ S7.9166713Feedback: The cost of each purchase is determinedby multiplying the cost per unit by the unitsacquired. These purchase cost amounts are addedand divided by the total units of the three purchases.All amounts must be cell referenced to the Problemarea and formulas must be used to add, multiple anddivide the respective amounts.14Units on hand at period end200Round unit cost to 3 decimals using the7.91715ROUND function16 Purchases of merchandise were made in the sequence listed above.17Cost of ending inventory1,583.40181920%24

C D K M Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing Using Excel to Cost Inventory Student Work Area PROBLEM In its first month of operations, McLanie Company made three purchases. Information concerning these purchases and units on hand are: 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. Cost per Unit $ 6.00 Units Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. L0 300 11 400 8.00 12 500 9.00 Weighted-average unit cost s +7.91667 Incorrect 13 Feedback: The cost of each purchase is determined by multiplying the cost per unit by the units acquired. These purchase cost amounts are added and divided by the total units of the three purchases. All amounts must be cell referenced to the Problem area and formulas must be used to add, multiple and divide the respective amounts. Units on hand at period end Round unit cost to 3 decimals using the 14 200 7.917 15 ROUND function 16 Purchases of merchandise were made in the sequence listed above. 17 Cost of ending inventory 1,583.40 18 19 20

C D K M Function: ROUND; Formula: Add, Multiply, Divide; Cell Referencing Using Excel to Cost Inventory Student Work Area PROBLEM In its first month of operations, McLanie Company made three purchases. Information concerning these purchases and units on hand are: 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. Cost per Unit $ 6.00 Units Compute the cost of the ending inventory under the average-cost method in a periodic inventory system. L0 300 11 400 8.00 12 500 9.00 Weighted-average unit cost s +7.91667 Incorrect 13 Feedback: The cost of each purchase is determined by multiplying the cost per unit by the units acquired. These purchase cost amounts are added and divided by the total units of the three purchases. All amounts must be cell referenced to the Problem area and formulas must be used to add, multiple and divide the respective amounts. Units on hand at period end Round unit cost to 3 decimals using the 14 200 7.917 15 ROUND function 16 Purchases of merchandise were made in the sequence listed above. 17 Cost of ending inventory 1,583.40 18 19 20

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter3: Setting Up A New Company

Section: Chapter Questions

Problem 3.4C

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