Set the value of the January “Beg. Of Month Inventory” equal to the “Initial Inventory” cell. Use a formula with absolute addressing or a range name.
3. Set the value of January “Reclining Sofa Sales” equal to the “Initial Sales” cell. Use a formula with absolute addressing or a range name.
4. Set the value of January “Reclining Sofa New Arrivals” equal to the “Inventory Arrivals” cell. Use a formula with absolute addressing or a range name.
5. Management predicts that sales from Feb-June will increase by 5% each month. Using a formula, calculate this to reflect the correct “Reclining Sofa Sales” for each month. Use the ROUNDDOWN function to calculate sold items in each month.
6. Use the same formula to reflect “Reclining Sofa New Arrivals,” which are going to increase by 10% each month. Use the ROUNDDOWN function to calculate New Arrivals in each month.
7. Calculate “End of Month Inventory.”
8. For January, calculate “Reclining Sofa Retail Price” using “Reclining Sofa Cost” and “Reclining Sofa Markup.” Use a formula with absolute addressing or a range name.
9. Starting in February, calculate “Reclining Sofa Retail Price” incorporating the “Reclining Sofa Price Decrease.”
10. Calculate “Sales Revenue per Month.”
11. Calculate the “Total” cells using the SUM function.
12. Under “Goal Analysis” calculate using an IF statement function. If the “Sales Revenue per Month” is less than “Gross Margin Goal,” it should display “Not Met.” Otherwise, it should display “Met.” (Note: use a single IF statement.)
13. Complete the model.
14. Calculate the “Analysis” portion using the MAX, MIN, AVERAGE and COUNTIF functions.
15. Page Orientation Landscape; Create a header to include your name (center section), INFS 3100 Fall 2016 (right section), and Excel Assignment # 1 (left section). (Use the header menu option.)
16. Print a copy of your completed worksheet. (No row or column borders, e.g., A, B, C, 1, 2, 3)
17. Print a copy of your cell formulas. (To show formulas press: Ctrl ~ OR click: Formulas: Show Formulas on the toolbar)
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