Question
In: Accounting
Exercise 1) Complete the following Excel Assignment and submit it to dropbox: Sales increase: 22% Cost...
Exercise 1) Complete the following Excel Assignment and submit it to dropbox:
Sales increase: 22%
Cost of Sales: 33%
Ending Inventory Needs:
Q1, 2021 Expected Sales: $696,000
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Q1 2021
Sales in 2019 $407,000 $455,000 $505,000 $778,000 $2,145,000
Expected Sales 2020 xxx xxx xxx xxx xxx xxx
Cost of Sales xxx xxx xxx xxx xxx xxx
Beginning Inventory xxx xxx xxx xxx xxx xxx
Ending Inventory xxx xxx xxx xxx xxx xxx
Purchases xxx xxx xxx xxx xxx xxx
Instructions:
Redo this table, putting formulas in all cells that have the "xxx". For this exercise, assume that sales will increase by 22% over 2019. Cost of sales equals 33% of sales. Ending inventory should equal 44% of the amount needed for next quarter sales. Expected sales in the 1st quarter of 2021 will be $696,000. Make sure that all formulas will adjust for changes in the assumptions noted inside the box. Round all answers to whole numbers (no decimals).
Solutions
Expert Solution
Answer is given below with excel formulas. please link the cells
ekkarill92 answered 2 years agoRelated Solutions
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