Excel Online Structured Activity: Cost of Goods Sold Suppose that a firm's inventory turnover is seven times and its average inventory is $240,000. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. Open spreadsheet Question What is the cost of goods sold? Round your answer to the nearest dollar. $
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Step 1: Calculate the cost of goods sold using the inventory turnover ratio formula: Cost of Goods Sold = Average Inventory / Inventory Turnover Ratio Show more…
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Suppose that a firm has an ending inventory of $125,000 as of December 31, 2012. The accounting information for 2013 has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Questions 1. What is the monthly inventory turnover ratio for each of the twelve months for 2013? Round your answers to two decimal places. Month Monthly Inventory Turnover Ratio January February March April May June July August September October November December 2. What is the total cost of goods sold for the year? Round your answer to the nearest dollar. 3. What is the average monthly inventory? Round your answer to the nearest cent. 4. What is the annual inventory turnover ratio? Do not round intermediate calculations. Round your answer to two decimal places.
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Function: SUM; Divide; Cell Referencing BE11.7 - Using Excel to Calculate Cost per Equivalent Unit PROBLEM Funensteins roasts peanuts and uses the FIFO method of process costing. Roasting process. The company has provided information relating to this month's production that is presented here. Student Work Area Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. How much total cost does Funensteins need to account for this month? Direct materials costs added to production Conversion costs added to production Direct materials costs in beginning inventory Conversion costs in beginning inventory $ 3,400 3,875 600 800 Direct Materials Conversion Costs Total Total costs to account for Equivalent units completed during the month For Direct materials For conversion costs 4,600 4,450 Determine the company's cost per equivalent unit for both DM and conversion costs for the current month. Direct Materials Conversion Costs Cost per equivalent unit
Using a spreadsheet computer software program, construct a supply chain finance model and calculate the profit margin; ROA; inventory turns; and transportation, warehousing, and inventory costs as a percentage of revenue for the following: Sales = $200,000,000 Transportation cost = $12,000,000 Warehousing cost = $3,600,000 Inventory carrying cost = 30% Cost of goods sold = $90,000,000 Other operating costs = $50,000,000 Average inventory = $10,000,000 Accounts receivable = $30,000,000 Cash = $15,000,000 Net fixed assets = $90,000,000 Interest = $10,000,000 Taxes = 40% of (EBIT - Interest) Current liabilities = $65,000,000 Long-term liabilities = $35,000,000 Stockholder's equity = $45,000,000
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