Animal Palaces buys dog and cat houses from wholesalers and sells them to the public. The...
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Animal Palaces buys dog and cat houses from wholesalers and sells them to the public. The budgeted sales for Animal Palaces for February and March are as follows: February $210 000 March $300 000 Cost of goods sold for the company is 30% of sales. Company policy states ending inventory must be 120% of next month's cost of goods sold. 60% of inventory purchases are paid for in the month of purchase, with the rest paid in the following month. The budgeted cost of inventory purchases in January is $50,000. Based on this information, what are the cash disbursements for inventory in February? Animal Palaces buys dog and cat houses from wholesalers and sells them to the public. The budgeted sales for Animal Palaces for February and March are as follows: February $210 000 March $300 000 Cost of goods sold for the company is 30% of sales. Company policy states ending inventory must be 120% of next month's cost of goods sold. 60% of inventory purchases are paid for in the month of purchase, with the rest paid in the following month. The budgeted cost of inventory purchases in January is $50,000. Based on this information, what are the cash disbursements for inventory in February?
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Answer rating: 100% (QA)
First we need to determine the cost of goods sold for March Cost of goods sold for March 30 x 300000 ... View the full answer
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
Posted Date:
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