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Instructions and Help about inventory form
I've just started us out with someheaders and we're just gonna enter an item As we go I'll explain whatyou'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 caseyou add something in subsequent months They're not going to hurt anything Theneach month is going to have an opening balance or beginning balance if you willOn this first month we're going to hard-code it In subsequent months we'regoing to link it I'll show you how to do that But for now let's say five vanillawe 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 Januaryyou purchased four you sold two and so your formula here should be C4D4-E4 For purchase price let's use the last price that youpaid for a gallon of ice cream and then that way it's going to reflect them atthe market value pretty closely if it's the last price that you paid Thenfor the ending value we're going to take the ending balance which is column Fmultiply it by the latest purchase price which is G4 and that's the endingvalue of your vanilla You need to remember to update the purchase priceevery time you buy it or it's not really going to reflect the current value Nextwe're going to put in a total column We'll go down to the lowest it could beJust to leave some space So we went into H16 I'm going to hit the equals sign andtype some for my formula Open up the parentheses and choose the range of allthe ending values I went back in I filled out some activity for these othertwo flavors of ice cream Cell F4 has a formula in it There's no need to retypethat Activate the cell F4 by left clicking it with your mouse go to thelower right hand corner of the rectangle until the mouse turns into a plus signdrag 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 eachflavor and it's coming down to a total Let's do a little bit of formatting hereso it's easier to read I think you want all of these rows to have two decimalplaces it's just called number Use that formatting Now all the decimal pointsare lined up It just makes it visually easier Let's do a bottom border toshow that this is the sum At the end of the table the ending value that you camedown to and 8478 If you're valuing your inventory on your books you need toadjust 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 Oryou're going to purchase something then record it wrong In other words thisending 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 quarterlyphysical inventory This a...
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