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The Lifo Excel Template offers great flexibility in customizing your data and creating some of the templates that are so popular in Excel. The template will allow you to explore a variety of formulas, all the while getting a feel for what the software can do.
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To get the most out of your Lifo Excel Template, you have to understand the basics of formulas. A formula is nothing more than a list of one or more values. A single, compound or multiple formulae can be used.
Compound formulas are the most basic and simple formulas. If you enter a number as the first value in a compound formula, then you will get the sum of the two numbers and this is called the result.
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You can use a single compound formula to multiply any number by itself. To enter a single compound formula, you must include the parentheses around the single part of the formula. When you do this, the formula becomes the same as using two variables in your computations.
Multiplying a single compound formula with itself will give you the results you expect. The values must be entered in the same order to achieve this.
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One disadvantage of using a compound formula is that it is quite difficult to correct a wrong value. Another disadvantage is that some other formulas can’t be written using the compound formula. If you have multiple compound formulae, the order of the values has to be correct.
Single formulas are much easier to write and you can correct their order if necessary. You will not have to use parentheses, therefore making the calculation much simpler. You will not have to write out the numbers individually because you will use the formula to make a single number.
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In the end, the Lifo Excel Template is one of the most flexible types of formulas. If you have never used a template before, this is a great place to start.