1. prepare a complete “Sales” worksheet.

2. compute cost of each material for beginning inventory, all purchases and ending inventory using VLookup. A lookup table appears on the Direct Materials Data worksheet.

3. complete the “Direct Materials Lookup table” using the excel function SUMIFS for Beginning Direct Materials, Purchases and Ending Direct Materials. Use simple formulas you create to fill in Direct Materials available for use and Direct Materials used.

4. total direct labor on its worksheet.

5. classify each “Other cost” as “Product Cost” or “Period Cost” in the tick marks column provided, then summarize product costs and period costs using SUMIFS to complete the “Other costs Lookup table.”

5. bring all totals from Sales, Direct Materials, Direct Labor and Other costs worksheets to the “Lookup Table” worksheet using VLookup, NOT just copying and pasting the totals.

6. use VLookup once again to prepare the income statement for Cotton Concatenations Inc. using the flow of inventoriable costs worksheet format.