{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-09-12T02:11:42-04:00", "answer_date": "2024-09-12 02:11:42", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "10357538", "url": "\/study-help\/questions\/hardy-companys-cost-of-goods-sold-is-consistently-60-of-10357538", "question_creation_date_js": "2024-09-12T02:11:42-04:00", "question_creation_date": "Sep 12, 2024 02:11 AM", "meta_title": "[Solved] Hardy Company's cost of goods sold is con | SolutionInn", "meta_description": "Answer of - Hardy Company's cost of goods sold is consistently 60% of sales. The company plans ending merchandise inventory for ea | SolutionInn", "meta_keywords": "hardy,company,s,cost,goods,sold,consistently,60%,sales,plans,ending,merchandise", "question_title_h1": "Hardy Company's cost of goods sold is consistently 60% of sales. The company plans ending merchandise inventory for each month equal to 30% of the", "question_title": "Hardy Company's cost of goods sold is consistently 60% of sales. The", "question_title_for_js_snippet": "Hardy Company's cost of goods sold is consistently 60 of sales The company plans ending merchandise inventory for each month equal to 30 of the next month's budgeted cost of goods sold All merchandise is purchased on credit, and 40 of the purchases made during a month is paid for in that month Another 45 is paid for during the first month after purchase, and the remaining 15 is paid for during the second month after purchase Expected sales are August (actual) $425,000, September (actual), $370,000, October (estimated) $300,000 and November (estimated) $400,000 Use this information to determine October's expected cash payments for purchases Calculate Monthly Purchases August September October November Budgeted ending inventory Required available inventory Required purchases Calculate Payments Made for Inventory Purchases paid in September October Purchases August After October August purchases September purchases October purchases Determine October's Expected Cash Payments for Purchases October's expected cash payments for purchases", "question_description": "
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\"image<\/div> <\/div> Hardy Company's cost of goods sold is consistently 60% of sales. The company plans ending merchandise inventory for each month equal to 30% of the next month's budgeted cost of goods sold. All merchandise is purchased on credit, and 40% of the purchases made during a month is paid for in that month. Another 45% is paid for during the first month after purchase, and the remaining 15% is paid for during the second month after purchase. Expected sales are August (actual). $425,000, September (actual), $370,000, October (estimated) $300,000; and November (estimated). $400,000. Use this information to determine October's expected cash payments for purchases. Calculate Monthly Purchases: August September October November Budgeted ending inventory Required available inventory Required purchases Calculate Payments Made for Inventory: Purchases paid in September October Purchases August After October August purchases September purchases October purchases Determine October's Expected Cash Payments for Purchases. October's expected cash payments for purchases", "transcribed_text": "", "related_book": { "title": null, "isbn": null, "edition": null, "authors": null, "cover_image": null, "uri": null, "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-12 02:11:42", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/business-communication\/what-images-will-you-use-for-each-audience-1999387", "description": "What images will you use for each audience?", "stars": 0 }, { "url": "\/1-the-us-department-of-defense-has-a-long-history", "description": "1) The U.S. Department of Defense has a long history of sponsoring projects that have questionable usefulness. 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