SALES AND INVENTORY OF BOOKS

This sheet is pertaining to the sales and inventory of books.

Purpose:

The purpose of this sheet is to determine the books available and how many are still available in this
school. The reason why we added this sheet is because many school especially private schools are
always endorsing books to the student to use in their study. Another reason is that in order for the
student to be convenient to them rather than buying books outside the school which is very costly

Sales and inventory of books is very important because it will help the school to know how many stocks
of books they have and also the particular books they are selling. From the word itself which is
inventory, this sheet will let you know the beginning inventory or stock and the ending inventory of the
books you are selling. In this sheet also will indicate the title of the book, its code, units, price per book,
available stock (current or ending inventory) and the total amount of books if they were to sell.
 BEGINNING INVENTORY

As you can see in the picture, we have a table here which is “BEGINNING INVENTORY” which represent
the current stocks of books of the school. You can see the books’ Product Name, Code, Units, Price
each, Stock, and lastly the total amount.

Formula:

The first formula that we used in this sheet is the “IFERROR”. “IFERROR” function is made in order to
trap and manage the errors in the formula that the user used. “IFERROR” function is to check the
formula and if it finds error into the value that it is evaluating, it returns to another value that the user
specify.

The next is the “VLOOKUP” function. This function was already discussed in the previous sheet but for a
brief explanation, “VLOOKUP” function is to look up and then retrieve a data from a specific column of
the table. It also supports approximate and exact matching. The “V” stands for “vertical”. While the
lookup values must appear in the first column of the table, with lookup columns to the right.

Actual formula we use:

So our actual formula is =IFERROR(VLOOKUP(B11,DS!$I$11:$J$17,2,FALSE),"Book Not Available"). The

function we used is “IFEEROR” which will see that if there’s an error in the “VLOOKUP” from B11 which
is the Product name that matches the data from the “DS” sheet which is the data source, the value that
will pop up is “Book Not Available”. Then if there is no error then the right “Code” will appear. In here,
there is no error that is why the right “Code” appears. So if you type the right book in the B11 cell, the
code “KOMFIL” will appear.

As for the “total amount” it is the total money value of all the total number of books (stocks). The total
amount column is use because for the financial reporting purposes. One of the school cares is about the
money or the sales which represents the “total amount”. If all the stocks were to be sold, then the total
sales for the book is equal to the total amount.

Formula

In here, we only used a mathematical formula to come up with the value of the “total amount” column.
The formula is =F11*E11. We only multiply the cell F11 which is under the column of “stock” to the cell
E11 which represents the “price each” of the book. And then after that, we also do that to the rest of
the cell.
As you can see here is the “SALES OF BOOKS” which contains all the transaction happened in a monthly
basis. You can see that the books have separate tables which represent the transaction in each book for
the whole month basis. Each table contains DATE,QTY(Quantity),COST AND TOTAL. Each column has
purpose which is the date of the transaction, the number of books sold, the cost of it and the total
amount of the quantity ordered or sold to the customer. The reason why we separate it is to be able to
distinguish all the transactions happened in a particular book and also in order to be organize. This will
prevent confusion to the user.

Formula:

We only used again a mathematical formula here which is =E28*D28. We multiply the cell E28 which
represents the “COST” of the book to cell D28 which is the “QTY(QUANTITY)” or the number of book
sold to the customer at that date. We also do the same to the other books in each of their separate
tables.
As you can see here, there is another total which it is the sales in each of the particular books. It is the
total amount of money that is acquired in selling the book in a monthly basis.

Formula

In here, we use the “SUM” formula in order to arrive at the total amount of sales in each book. The
formula is =SUM(F28:F36). We use “SUM” from cell F28 to F36. The use of “SUM” is just like adding the
value of the cell given in the range of parenthesis. It only works for numbers.

ENDING INVENTORY
The ending inventory contains the total number of the remaining stocks and its value at the
end of an accounting period, but in this case, we made ending inventories at the end of every month
to make the formulation of financial statements easier. In order to know the remaining stocks for
every book, we subtracted the total books sold from the beginning inventory.

BEGINNING INVENTORY
Product Name CODE Units Price each Stock total amount
Kontekstwalisadong Komunikasyon sa Filipino KOMFIL Pcs. 350 600 ₱ 210,000.00

Kontektwalisadong Komunikasyon sa Filipino

DATE QTY COST TOTAL
11/14/2019 135 350 47250
11/15/2019 66 350 23100
11/16/2019 36 350 12600
11/17/2019 42 350 14700
11/18/2019 21 350 7350
11/19/2019 109 350 38150
11/20/2019 56 350 19600
 11/21/2019 92 350 32200
11/22/2019 30 350 10500
TOTAL 587 ₱ 205,450.00

ENDING INVENTORY
Price
Product Name CODE Units Stock total amount Remarks
each
Kontektwalisadong Komunikasyon sa Filipino KOMFIL Pcs. 350 13 ₱ 4,550.00 Consider replenish

Beg. Inventory Stock – Total Books Sold = Ending Inventory

As for the total amount, we multiplied the price of the book with the remaining stocks
(P11*O11). This section is included as it is essential to distinguish the total amount for financial
statement purposes. On the other hand, the remarks depend on the ending inventory. We used the
formula IF so that it automatically places a remark “Consider Replenish” if the stocks are less than
50, if not, then it’ll be left blank. (=IF(P11<=50,"Consider replenish",""))
Formula:

For the book that is encircled above, we used data validation there. We clicked the data validation and
then the list in order to list down all the books available in the school. The source of the data in the list is
in the “DS” sheet of Data Source sheet.

The next formula we use for the code is “VLOOKUP”. It was already explain in the previous sheet but as
a brief summary, “VLOOKUP” function is to look up and then retrieve a data from a specific column of
the table. It also supports approximate and exact matching. The “V” stands for “vertical”. While the
lookup values must appear in the first column of the table, with lookup columns to the right.

The formula is =VLOOKUP(L4,$L$11:$M$17,2,FALSE). The value that needs to be lookup is the L4 which
is the Code and the data that will confirm the value is from cell L11 to M12. As you can see there is the
number “2” in the formula which is the column that needs to be match and the “FALSE” means exact
match.

The same goes for the ending inventory =VLOOKUP(L4,$L$11:$P$17,5,FALSE). The only difference here
is the number of columns that need to appear in the cell. It shows the number “5” which means the fifth
column is the cell range that needs to be match. Therefore, it is the one that will appear on the cell of
ending inventory.

The same goes for the remarks =VLOOKUP(L4,$L$11:$R$17,7,FALSE). The only difference here is the
number of columns that need to appear in the cell. It appears that the 7th column is the one needed to
match up. Therefore, the data on the 7th column will appear in the remarks.

The basis of this formula is the table of ENDING INVENTORY because the is the reference date of the
“VLOOKUP” used in this particular cell.