Answered: Retail companies with today’s online,…

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter3: Data Visualization

Section: Chapter Questions

Problem 17P: The Northwest regional manager of Logan Outdoor Equipment Company has conducted a study to determine...

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Related questions

Question

Retail companies with today’s online, as well as in-store sales have a lot of data to keep track of!

Keeping track of sales, costs, and profits daily is essential to making the most of a business. This exercise illustrates how to use the skills presented in this Module to generate the data needed daily by a retail company.

Create the following calculated columns.
a) In I4, and J4, use a VLOOKUP function that will look up the Product Price and Product

Cost based on the Product Sold column which lists an ID number. [Hint: The Product Table

sheet lists the Price and Cost] If any error messages appear, check the Range Lookup.

b) In K4, use a formula to calculate Profit. Hint: Profit =(Product Price-Product

Cost)*Units Sold

Format columns I, J, and K as currency with two decimal places.
Make a copy of the Sales sheet and rename it Online Sales by Date. Place this sheet to the right of the Sales sheet. Answer the following question by filtering the data accordingly.
a) What was the total Profit for Online Sales?
b) Sort the results by Date Sold (A/Z).

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