SanTin Ltd. estimates that 2020 sales will be HK$400,000 in quarter 1, HK$480,000 in quarter 2, and
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SanTin Ltd. estimates that 2020 sales will be HK$400,000 in quarter 1, HK$480,000 in quarter 2, and HK$580,000 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending finished goods inventory equal to 10% of the next quarter’s expected cost of goods sold. Prepare a merchandise purchases budget by quarter for the first 6 months of 2020.
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Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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