Old Antique Store prepared the following budget information for the month of May Sales are budgeted at $413,000 All sales are on account and a provision for bad debts is made for each month at three percent of sales for the month Inventory was $97,000 on April 30 an inventory increase of $18,000 is planned for May 31 All inventory is marked to sell at cost plus 40 percent Estimated cash disbursements for selling and administrative expenses for the month are $61,000 Depreciation for May is projected at $7,300 Old Antique's budgeted cost of inventory purchases for May is Multiple Choice a) $118,000 b) $165,200 c) $212,500 d) $313,000 e) $295,000 Old Antique Store prepared the following budget information for the month of May Sales are budgeted at $413,000 All sales are on account and a provision for bad debts is made for each month at three percent of sales for the month inventory was $97,000 on April 30 an inventory increase of $18,000 is planned for May 31 All inventory is marked to sell at cost plus 40 percent Estimated cash disbursements for seling and administrative expenses for the month are $61,000 Depreciation for May is projected at $7,300 Oid Antique's budgeted cost of Inventory purchases for May is Multipie Choice $118 000 $165,200 $212,500 $313 000 $295,000

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Old Antique Store prepared the following budget information for the month of May: *Sales are budgeted at $413,000. All sales are on account and a

Old Antique Store prepared the following budget information for the month of May:

*Sales are budgeted at $413,000. All sales are on account and a provision for bad debts is made for each month at three percent of sales for the month.

*Inventory was $97,000 on April 30; an inventory increase of $18,000 is planned for May 31.

*All inventory is marked to sell at cost plus 40 percent.

*Estimated cash disbursements for selling and administrative expenses for the month are $61,000.

*Depreciation for May is projected at $7,300.

Old Antique's budgeted cost of inventory purchases for May is:

Multiple Choice

a) $118,000.

b) $165,200.

c) $212,500.

d) $313,000.

e) $295,000.

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Old Antique Store prepared the following budget information for the month of May: - Sales are budgeted at $413,000. All sales are on account and a provision for bad debts is made for each month at three percent of sales for the month. - inventory was $97,000 on April 30; an inventory increase of $18,000 is planned for May 31. - All inventory is marked to sell at cost plus 40 percent. - Estimated cash disbursements for seling and administrative expenses for the month are \$61,000. - Depreciation for May is projected at $7,300. Oid Antique's budgeted cost of Inventory purchases for May is: Multipie Choice $118.000 $165,200 $212,500 $313.000. $295,000