Loud Sounds sells specialty car stereo systems. On March 31, the company had 60 systems in inventory.

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Loud Sounds sells specialty car stereo systems. On March 31, the company had 60 systems in inventory. The company’s policy is to maintain inventory equal to 5 percent of next month’s projected sales. The company expects the following sales activity for the second quarter of the year:
April ....... 140 stereos
May ........ 100 stereos
June ....... 120 stereos

Required
Prepare a purchases budget for the month of May.

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Managerial Accounting A Focus on Ethical Decision Making

ISBN: 978-0324663853

5th edition

Authors: Steve Jackson, Roby Sawyers, Greg Jenkins

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