Fluent Essays

Problem data can be found in the uploads and Information must be inputted on the spreadsheet. DATE TRANSACTION NUMBER OF UNITS PER UNIT TOTAL Apr. 3 Inventory 25 $1,200 $ 30,000 8 Purchase 75 1,240 93,000 11 Sale 40 2,000 80,000 30 Sale 30 2,000 60,000 May 8 Purchase 60 1,260 75,600 10 Sale 50 2,000 100,000 19 Sale 20 2,000 40,000 28 Purchase 80 1,260 100,800 June 5 Sale 40 2,250 90,000 16 Sale 25 2,250 56,250 21 Purchase 35 1,264 44,240 28 Sale 44 2,250 99,000 Gross profit from sales for the period. Answer $214,474 cost of goods sold, and the gross profit from sales for the period. Answer Gross profit, $213,170 Pr. 6-1B Problem 6-1B # Incorrect N-box and B-box entries COUNTIF(B15:G24,"~*") Name: 0 Section: # N-box Incorrects due to blanks COUNTIF(B15:AT24," ") 26 Score: 4% # N-box +B-box corrects COUNTIF(B15:AT24," ") 1 Key Code: [Key code here] Total SUM(AD13:AD15) Instructions 27 Answers are entered in the cells with gray backgrounds. Percentage =(AD16-AD13-AD14)/AD16 Cells with non-gray backgrounds are protected and cannot be edited. 4% An asterisk (*) will appear to the right of an incorrect entry. In part 1, only final inventory cost - Column K - will be graded. Notes: 1. Date Purchases Cost of Goods Sold Inventory If number-entry or blank-entry box is incorrect, returns "*" Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost If number-entry or blank-entry box is correct, returns single space, " " Use data verification to set data entry to whole number >= 0, and use drop-downs for lables and names, so that students can't enter a space in a box and have it counted as correct. Apr. 3 25 $1,200 $ 30,000 Conditional formatting might be used but wasn't here, to hide some of the error check return symbols. If A1 = "~*", then font = red, if something else, then font = background color. 8 11 30 May 8 cpence: Place the earliest units first, above the units that were received later. cpence: Place the earliest units first, above the units that were received later. cpence: Place the earliest units first, above the units that were received later. 10 19 28 June 5 16 21 28 30 Balances cpence: Enter the total of column H, the total cost of merchandise sold. 2. JOURNAL Description Debit Credit Accounts Receivable cpence: Record the credit sale in this entry. Select the accounts from the drop-down list. cpence: Enter the ending inventory balance from cell K36. Cost of Goods Sold Inventory Sales cpence: Record the cost of the goods sold in this entry. 3. Gross profit for the sales period $214,474 4. Ending inventory cost 5. Inventory under LIFO would be Sol Problem 6-1B Name: Solution Section: Scoring: ON Instructions Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. An asterisk (*) will appear to the right of an incorrect entry. In part 1, only final inventory cost - Column K - will be graded. 1. Date Purchases Cost of Goods Sold Inventory Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Apr. 3 25 $1,200 $ 30,000 8 75 $1,240 $ 93,000 25 $1,200 $ 30,000 cpence: Place the earliest units first, above the units that were received later. 75 $1,240 93,000 11 25 $1,200 $ 30,000 cpence: Place the earliest units first, above the units that were received later. 15 $1,240 18,600 60 $1,240 $ 74,400 30 30 $1,240 $ 37,200 30 $1,240 37,200 May 8 60 $1,260 $ 75,600 30 $1,240 $ 37,200 cpence: Place the earliest units first, above the units that were received later. 60 $1,260 75,600 10 30 $1,240 $ 37,200 20 $1,260 25,200 40 $1,260 $ 50,400 19 20 $1,260 $ 25,200 20 $1,260 $ 25,200 28 80 $1,260 $ 100,800 20 $1,260 $ 25,200 80 $1,260 100,800 June 5 20 $1,260 $ 25,200 20 $1,260 25,200 60 $1,260 $ 75,600 16 25 $1,260 $ 31,500 35 $1,260 $ 44,100 21 35 $1,264 $ 44,240 35 $1,260 $ 44,100 35 $1,264 44,240 28 35 $1,260 $ 44,100 9 $1,264 11,376 26 $1,264 $ 32,864 30 Balances $ 310,776 cpence: Enter the total of column H, the total cost of merchandise sold. $ 32,864 cpence: Enter the ending inventory balance from cell K36. 2. JOURNAL Description Debit Credit Accounts Receivable Accounts Receivable cpence: Record the credit sale in this entry. Select the accounts from the drop-down list. 525,250 Cost of Goods Sold Sales 525,250 Inventory Sales Cost of Goods Sold cpence: Record the cost of the goods sold in this entry. 310,776 Mark Sears: This should equal the total of Column H in Part 1. cpence: Place the earliest units first, above the units that were received later. cpence: Place the earliest units first, above the units that were received later. cpence: Enter the total of column H, the total cost of merchandise sold. cpence: Record the credit sale in this entry. Select the accounts from the drop-down list. cpence: Enter the ending inventory balance from cell K36. cpence: Record the cost of the goods sold in this entry. Inventory 310,776 3. Gross profit for the sales period $214,474 4. Ending inventory cost $32,864 5. Inventory under LIFO would be lower