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In this tutorial, Vinid demonstrates how to create a bar chart in Excel using the latest format. He opens a sample spreadsheet containing several sheets: Opening Balance, Received, Sales, and Closing Balance. The Opening Balance sheet includes serial numbers, item names, opening balances, and units without any formulas. The Received sheet features serial numbers, item names, total units, and corresponding dates, with a formula that sums the values from cells E6 to AI6. The Sales sheet contains similar details with columns for serial numbers, item names, complementary sales, total sales, and units, along with daily sales entries. Vinid also explains how to calculate totals for complimentary items, illustrating the use of basic formulas throughout the process.