Microsoft Word Invoice Template Instructions for the Microsoft Excel Templates Be advised by sgt19112

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									Instructions for the Microsoft Excel Templates

Be advised, the worksheet and workbooks are not protected.

Extensive detail and information is contained within the manual.

Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant and bring up one
of several help menus.

You should enter your name, course ID, and date name into the cells at the top of the page.

Each page contains a page footer with a Page # of Page ## as well as time and date to assist in assembly of
multiple pages.

Each worksheet contains the identification of the problem or exercise.

All formatting should have been accomplished to provide satisfactory presentation. See the text for additional
assistance in formatting.

There should be no need to insert columns or rows into the workbooks.

If more than one page is required by the problem, the page breaks are preset.

In general, the yellow highlighted cells are the cells which work and effort should be presented.

Place the proper account title in the cell where the word "Account title" appears on the template.

Place the value in the cell where the word "Value" or "Amount" appears on the template. A formula may be placed
in some of these cells.

Write a formula into cells where the word "Formula" appears. In these cells, an amount calculated can be
entered. An amount can be placed in these cells.

Place the explanation for the entry in the cell where the word "Text Explanation" appears on the template.

Insert the account number where "Acct Nbr" appears on the template during posting.

Insert the journal reference where "JOURN #" appears on the template during posting.

Insert the title in the cell where "TITLE" appears on the template.

The print area is defined to fit onto 8 1/2" X 11" sheets in portrait or landscape mode as required.

The gray filled cells define the perimeter of the problem and the print area.

The problem is formatted for whole dollars with comma separations (no cents) except where required.

The display may have "Freeze Pane" invoked so column titles remain visible during data entry.

Negative values may be shown as ($400) or -$400.




                                   Instructions, Page 1 of 5, 7/19/2010, 3:08 PM
Consider using "Split" panes to assist in copy and paste of data.

Much of the exercises and problems can have data entered by the "look to" or "=A34" type formula where cell
A34 contains the data to be entered. This precludes typing and data entry errors.




                                  Instructions, Page 2 of 5, 7/19/2010, 3:08 PM
Name:
Problem:            P8-4, Compute FIFO, LIFO, and Average Cost - Periodic and Perpetual
Course:
Date:
Hull Company's record of transactions concerning part X for the month of April was as follows:
                                       Purchases                                        Sales
                                               Quantity:      Unit Cost:                     Quantity:
      Apr 1     (Balance on hand)                     100           $5.00      Apr 5                 300
      Apr 4                                           400            5.10     Apr 12                 200
     Apr 11                                           300            5.30     Apr 27                 800
     Apr 18                                           200            5.35     Apr 28                 150
     Apr 26                                           600            5.60
     Apr 30                                           200            5.80

Instructions:
(a) Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units
    only. Carry unit costs to the nearest cent.

                                 Purchases                                              Sales
Dates and Units                                                 Unit Cost   Dates and Units
April 1 (balance on hand)                           Quantity    Amount      Apr 5                     Quantity
Apr 4                                               Quantity    Amount      Apr 12                    Quantity
Apr 11                                              Quantity    Amount      Apr 27                    Quantity
Apr 18                                              Quantity    Amount      Apr 28                    Quantity
Apr 26                                              Quantity    Amount      Total units               Formula
Apr 30                                              Quantity    Amount
Total units                                         Formula
Total units sold                                    Quantity
Total units (ending inventory)                      Formula

(1) First-in, First-out, (FIFO). (Assuming costs are not computed for each withdrawal - Perpetual.)

Date of Invoice                    No. Units                   Unit Cost                      Total Cost
   Apr 30                            Quantity                      Amount                          Formula
   Apr 26                            Quantity                      Amount                          Formula
                                     Value of ending inventory, FIFO, Periodic valuation:          Formula

(2) Last-in, First-out, (LIFO). (Assuming costs are not computed for each withdrawal - Perpetual.)

Date of Invoice                    No. Units                   Unit Cost                      Total Cost
    Apr 1                            Quantity                      Amount                          Formula
    Apr 4                            Quantity                      Amount                          Formula
                                     Value of ending inventory, LIFO, Periodic valuation:          Formula

(3) Average cost.

 Date of Invoice                   No. Units                    Unit Cost                     Total Cost
      Apr 1                          Quantity                      Amount                          Formula
      Apr 4                          Quantity                      Amount                          Formula
     Apr 11                          Quantity                      Amount                          Formula
     Apr 18                          Quantity                      Amount                          Formula
     Apr 26                          Quantity                      Amount                          Formula
     Apr 30                          Quantity                      Amount                          Formula
Total Available                      Formula                                                       Formula




                                             Problem 8-4, Page 3 of 5, 7/19/2010, 3:08 PM
Average cost per unit:                                            Amount
Units in ending inventory:                                        Quantity
Ending valuation of inventory, average cost method                Formula

(b) If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would
    be shown as ending inventory in 1, 2, and 3 above? Carry average unit costs to four decimal places.
(1) First-in, First-out, (FIFO). (Assuming costs are computed for each withdrawal - Perpetual.)

Enter text answer here as required.


(2) Last-in, First-out, (LIFO). (Assuming costs are computed for each withdrawal - Perpetual.)
The area within gray highlighting should contain sales details.

                  Purchased                        Sold          Event                        Balance*
      Date                        Unit cost                                   Unit cost                       Unit cost      Amount
                  No. of units                  No. of units     Detail                      No. of units
     Apr 1                100          $5.00                                                           100          $5.00     $500.00

     Apr 4

                                                                                                                  Balance

     Apr 5


                                                                                                                  Balance

     Apr 11


                                                                                                                  Balance

     Apr 12




                                                                                                                  Balance

     Apr 18




                                                                                                                  Balance

     Apr 26




                                                                                                                  Balance

     Apr 27




                                                                                                                  Balance
     Apr 28


                                                                                                                  Balance




                                              Problem 8-4, Page 4 of 5, 7/19/2010, 3:08 PM
     Apr 30


                                                                                                                 Balance

Enter text answer here as appropriate

(3) Average Cost. (Perpetual.)

The area within gray highlighting should contain sales details.

                   Purchased                        Sold                       Balance                        Ext'd Inv
      Date                         Unit cost                      Unit cost                    Unit cost*
                   No. of units                  No. of units                 No. of units                    Valuation
     Apr 1                 100       $5.0000                                          100           $5.0000      $500.00
     Apr 4
                                                                    Balance
     Apr 5
                                                                    Balance
     Apr 11
                                                                    Balance
     Apr 12
                                                                    Balance
     Apr 18
                                                                    Balance
     Apr 26
                                                                    Balance
     Apr 27
                                                                    Balance
     Apr 28
                                                                    Balance
     Apr 30
                                                                  Balance
                                   Slight differences in values are due to significant digit rounding.
Enter text answer here as appropriate.




                                               Problem 8-4, Page 5 of 5, 7/19/2010, 3:08 PM

								
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