This project is meant to help students apply knowledge in several areas including spreadsheets, such as Excel and a major business topic, Inventory Control and Cost of Sales.
This is not a full lesson, but an activity meant to stretch the students' understanding and ability to apply skills that are learned in classes dealing with spreadsheets or general business.
Cost of Sales Sheet
The cost of sales is essentially how much it cost for the inventory. A major factor of the sheet was determining how much tax the company needed to pay for each item. You will need to recreate this worksheet. You have been provided with costs of item, prices charged and amount of inventory. You will need to sort the worksheet by category and by product name. You will need to determine how much has been sold during the month, you will need to construct an IF statement to sort the products into the correct tax amount, you will need formulas to determine income, cost of sales, profit and totals for taxes, income, COS, and profit.
Amount Sold: is the total amount of inventory for the month less the amount remaining at the end of the month
IF Statements: will test if the categories match and charge the correct amount of tax, if the categories do not match, the cell will be left blank (HINT: The false part of this formula is accomplished by using empty quotations)
Taxes: taxes are included in the sales price, you will need to determine how much needs to be withheld
Income from sales: is the total amount from sales less the taxes
Cost of Sales: is the cost of the product plus the total inventory during the month
Profit: is the total money received less the cost of the inventory