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I've just started us out with some headers, and we're just going to enter an item As we go I'll explain what you're going to do with each of these We're going to have an ice cream shop, and we're going to be tracking the flavors Leave all the extra rows on here in case you add something in subsequent months They're not going to hurt anything Then each month is going to have an opening balance or beginning balance if you Wilson this first month we're going to hard-code it In subsequent months we'redoing to link it I'll show you how to do that But for now let's say five vanilla we have ten gallons of mint chocolate chip and one gallon of bubblegum We're just going to work on the vanilla for now During the month of January you purchased four you sold two and so your formula here should be C4D4-E4 For purchase price let's use the last price that you paid for a gallon of ice cream and then that way it's going to reflect them at the market value pretty closely if it's the last price that you paid Then for the ending value we're going to take the ending balance which is column Multiply it by the latest purchase price which is G4 and that's the ending value of your vanilla You need to remember to update the purchase price every time you buy it, or it's not really going to reflect the current value Next we're going to put in a total column We'll go down to the lowest it could be best to leave some space So we went into H16 I'm going to hit the equals sign and type some for my formula Open up the parentheses and choose the range of all the ending values I went back in I filled out some activity for these other two flavors of ice cream Cell F4 has a formula in it There's no need to retype that Activate the cell F4 by left-clicking it with your mouse go to the lower right-hand corner of the rectangle until the mouse turns into a plus sign drag this all the way down That's going to copy that formula down Do the same thing in column H Let's put in some purchasepricesNow the whole spreadsheet is calculating the ending value of each flavor, and it's coming down to a total Let's do a little of formatting harsh it's easier to read I think you want all of these rows to have two decimal places it's just called number Use that formatting Now all the decimal points are lined up It just makes it visually easier Let's do a bottom border to show that this is the sum At the end of the table the ending value that you come down to and 8478 If you're valuing your inventory on your books you need to adjust it to that 8478 if that's not what it is right now But on that subject some of your inventory is going to shrink right Or you're going to purchase something then record it wrong In other words this ending value over the months is going to become inaccurate no matter how hard you try to keep it right What you would do is do a monthly or a quarterly physical inventory This a physical count column Let's recheck the purchase price to make sure you didn't forget any and then...
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