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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 percent of sales revenue and management desires ending inventories equal to 20 percent of the following month's sales. Assuming the January 1 inventory is $7,000, the January purchases budget is:
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