Some purchasing specialist jobs also assign specialists to track the maintenance of office equipment. Maintaining records of warranties and service agreements is sometimes expected of a person in this position.
A retail price index would take this into account and use a weighted average which gives more prominence to commonly bought items. Excel does not contain a built in function to calculate a weighted average. It is however easy to do it using the SUMPRODUCT() function in a simple formula. SumProduct() multiplies two arrays (or ranges) together and returns the sum of the product. In the illustration it would calculate '(B4 x C4) + (B5 x C5) + (B6 x C6)'.
The following equation is a simplified representation of what a Balance Sheet calculates: the total sum of your companyâs assets equals the value of the companyâs liabilities and ownerâs equity. As with any math equation, you can of course play around with the equation to isolate one category.