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Budgeted sales of the Taco El Loco for the first quarter of the year are as follows: January 60,000 February 70,000 March 86,000 The cost
Budgeted sales of the Taco El Loco for the first quarter of the year are as follows:
January | 60,000 |
February | 70,000 |
March | 86,000 |
The cost of sales averages 30% of sales revenue and management desires ending inventories equal to 20% of the following month's sales.
Assuming the January 1 inventory is $7,000, the January purchases budget is:
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