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I need help solving the followign problem. Victors sells its rock-climbing shoes worldwide. Victors expects to sell 7, 500 pairs of shoes for $170 each
I need help solving the followign problem.
Victors sells its rock-climbing shoes worldwide. Victors expects to sell 7, 500 pairs of shoes for $170 each in January, and 2, 500 pairs of shoes for $200 each in February. Victors expects cost of goods sold to average 70% of sales revenue, and the company expects to sell 4, 500 pairs of shoes in March for $240 each. Victors' target ending inventory is $11,000 plus 50% of next month's cost of goods sold. Use this information and the sales budget to prepare Victors' inventory, purchases, and cost of goods sold budget for January and FebruaryStep by Step Solution
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