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A B C D E F H Function: Sum; Formula: Add, Multiply, Divide, Subtract; Cell Referencing L Using Excel to Determine Periodic Inventory Costs PROBLEM More & More Limited uses a periodic inventory system. The following additional information is available: June 1 inventory June 15 purchase June 23 purchase Units sold Units G 200 400 400 1,000 600 Unit Cost $ 12 14 15 Total Cost $ 2,400 5,600 6,000 $ 14,000 +

More \& More Limited uses a periodic inventory system. The ollowing additional information is available: Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem or to the work area as applicable. a. Calculate the June 30 inventory and the June cost of goods sold, using the weighted average cost formula. Weighted average cost per unit Ending inventory Cost of goods sold b. Calculate the June 30 inventory and the June cost of goods sold, using the FIFO formula. Ending inventory Cost of goods sold c. Calculate the June 30 inventory and the June cost of goods sold, using the specific identification method assuming the following units were sold on June 24 . Ending inventory Units from June 1 inventory Units from June 15 inventory Units from June 23 inventory Cost of goods sold Units from June 1 inventory Units from June 15 inventory Units from June 23 inventory

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