Question
New Fashion forecasts sales of $312,000 for the quarter ended December 31. The company's gross profit rate averages 20% of sales. Inventory as of September
New Fashion forecasts sales of $312,000 for the quarter ended December 31. The company's gross profit rate averages 20% of sales. Inventory as of September 30 is $112,000. If the December 31st inventory is targeted at $52,000, budgeted purchases for the quarter should be:
Multiple Choice
$137,600.
$174,400.
$189,600.
$200,000.
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Financial Accounting Reporting And Analysis
Authors: Michael Diamond, James Stice, Earl K. Stice, James D. Stice
5th Edition
0538873019, 978-0538873017
