Grippers sells its rock-climbing shoes worldwide. Grippers expects to sell 8,500 pairs of shoes for $180 each in January, and 3,500 pairs of shoes for $190 each in February. All sales are cash only.

Requirement: 1. Prepare the sales budget for January and February.

Note: Short Exercise 22-3 must be completed before attempting Short Exercise 22-4.

Preparing an operating budget [10 min] Review your results from 522-3. Grippers expects cost of goods sold to average 60% of sales revenue, and the company expects to sell 4,100 pairs of shoes in March for $260 cach. Grippers' target ending inventory is $10,000 plus 50% of the next month's cost of goods sold.

s22-4 Requirement: 1. Use this information and the sales budget prepared in S22-3 to prepare Grippers