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10. Horizon Audio Systems sells and installs car starter systems. The companys sales budget for the fourth quarter is provided below: October November December Budgeted
10. Horizon Audio Systems sells and installs car starter systems. | |||||||
The companys sales budget for the fourth quarter is provided below: | |||||||
October | November | December | |||||
Budgeted Sales | $90,000 | $98,000 | $104,000 | ||||
You can expect the companys cost of goods sold to be 80% of sales. | |||||||
The ending inventory balance each month should be 20% of the next months cost of goods sold. | |||||||
Based on this information, how much inventory do you need to purchase for November? |
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