Question
ABC, Inc. has the following budgeted figures: Calculate the budgeted purchases for the month of January. Jan Feb Mar April Sales $56,200 $68,000 $82,000 $91,000
ABC, Inc. has the following budgeted figures:
Calculate the budgeted purchases for the month of January.
|
| Jan | Feb | Mar | April |
| Sales | $56,200 | $68,000 | $82,000 | $91,000 |
| Cost of goods sold | 50% of sales |
|
|
|
| Required ending inventory | $10,000 + 20% of next month's sales |
|
|
|
| Inventory on hand on Jan 1 | $27,000 |
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Information Technology Auditing And Assurance
Authors: James A. Hall, Tommie Singleton
2nd Edition
0324191987, 978-0324191981
