Case scenario: You are a newly hired accountant for Sushi Beeber, Inc., a retail company...

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Accounting

Case scenario: You are a newly hired accountant for Sushi Beeber, Inc., a retail company specializing in apparel for small pets. The company would like to expand its apparel line to include sweaters for cats. Sushi Beeber has found several manufacturers that offer competitive prices to ensure cost of goods sold is low. Because the company receives merchandise from different manufacturers and the cat sweaters will be commoditized, the company needs to develop an internal accounting system to keep track of inventory cost. You think that the weighted average cost method may help the company stay up-to-date with the inventory cost as purchase cost changes over time. Your task is to create a spreadsheet that can calculate the inventory cost based on purchases and sales for the month.

Date Purchase/Sale Units Purchase Unit Cost Sign (purchase = +1, sale = -1) Sign for Cost of Purchase (purchase = 1, sale =0) Sign for Cost of Sales (sale = 1, purchase = 0) Units on Hand Cost of Purchase Cost of Sales Inventory Total Cost Weighted Average Cost
150 $ 18,000.00 $ 120.00
1-Oct Purchase 100 $ 125.00
1-Oct Sale 60
3-Oct Purchase 50 $ 126.00
4-Oct Purchase 60 $ 131.00
4-Oct Sale 50
4-Oct Purchase 60 $ 133.00
7-Oct Sale 120
7-Oct Purchase 80 $ 135.00
8-Oct Purchase 20 $ 135.00
8-Oct Sale 30
8-Oct Purchase 40 $ 137.00
9-Oct Sale 20
9-Oct Purchase 50 $ 139.00
9-Oct Sale 10
9-Oct Sale 20
10-Oct Purchase 50 $ 139.00
10-Oct Purchase 20 $ 140.00
11-Oct Sale 40
11-Oct Sale 30
14-Oct Purchase 40 $ 145.00
14-Oct Sale 10
15-Oct Sale 30
15-Oct Sale 10
16-Oct Purchase 80 $ 145.00
17-Oct Sale 50
17-Oct Sale 10
18-Oct Sale 50
18-Oct Sale 30
21-Oct Sale 30
21-Oct Purchase 100 $ 144.00
22-Oct Sale 70
23-Oct Purchase 10 $ 144.00
24-Oct Sale 100
25-Oct Sale 30
25-Oct Sale 20
28-Oct Purchase 70 $ 144.00
28-Oct Purchase 30 $ 144.00
29-Oct Sale 130
30-Oct Purchase 20 $ 146.00
30-Oct Sale 70
31-Oct Purchase 50 $ 146.00
31-Oct Purchase 20 $ 146.00
The instructions also say there is a typo in colum C abd we also find it and fix it. I am super confused with this topic so I dont know where to start!!

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