Question
Miller Company has the following data: Month Budgeted Sales January $400,000 February 360,000 March 440,000 April 480,000 The gross profit rate is 40 percent, and
Miller Company has the following data:
| Month | Budgeted Sales |
| January | $400,000 |
| February | 360,000 |
| March | 440,000 |
| April | 480,000 |
The gross profit rate is 40 percent, and the inventory at the end of December was $72,000. Desired inventory levels are 30 percent of next month's sales.
The total purchases budgeted for March should be:
A. $350,400
B. $176,000
C. $271,200
D. $264,000
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Auditing Information Security A Complete Guide
Authors: Gerardus Blokdyk
2020 Edition
1867303531, 978-1867303534
