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Please show your work and explain Volga Company is a small wholesaler of peanuts and specialty food products. Sales for the next three months are
Please show your work and explain
Volga Company is a small wholesaler of peanuts and specialty food products. Sales for the next three months are budgeted as follows: November December January S360,000 $330,000 Collections are expected to be: Month of sale: Month following sale: Uncollectible: 80% 17% 3% 75% Cost of goods sold as a percentage of sales is: Ending inventory equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the-sale. Other monthly expenses paid in cash are: Monthly depreciation is S19,000 and ignore taxes. $21,800Step by Step Solution
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