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How do I find the beggining inventory ?? Like the (17,000) Sound Off Audio System sells and installs car stereo systems. Managers need to prepare

How do I find the beggining inventory ?? Like the (17,000) image text in transcribed
Sound Off Audio System sells and installs car stereo systems. Managers need to prepare a Generatory purchases budget for the first quarter of 2018. The company rules budget for the first quarter is provided below Marth JARAT Dudgeted Side TOTO 19000 Based on past experience the company expects the cost of goods sold to equal 80% of sales. Furthermore, the ending inventory balance each month should be $4.000 plus 20% of the current period's cost of goods sold. The inventory balance on December 31, 2017 was $17.000. The company makes all purchases on account and pays 60% of accounts payable in the month of purchase and the remaining 40% in the next month. Accounts payable stood at $18,000 at December 31, 2017 Required Prepare an inventory purchases budget for January, February, and March of 2018. 2) Determine the amount of ending inventory and the accounts payable balance that will appear on the March 31, 2018 pro forma balance sheet. 3) Prepare a schedule of cash payments for inventory for January, February, and March, 2018. 108,00 >80=69,000 March January February 2400 KH 150 70, 720 Acto Pyable Budgeted Cost of Goods Sold +Desired End, Inventory = Inventory Needed 90.00 - Beg. Inventory -100 1942 Required Purchases 2) bud loentury = 18,400 Arrits Payable source = 70,720 40% = 28, 288, (13.69 61,054.770,700.00 January February March 160% current purchases 49,800 46,848 40, 432 40 % prior north puritose tur,000 232004 Total hostel ponents 73,604 (13,00x40)

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