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Mountaineer Company expects to sell 4,000 units for $170 each for a total of $680,000 in January and 3,200 units for $225 each for a total of $720,000 in February. The company expects cost of goods sold to average 60% of sales revenue, and the company expects to sell 4,700 units in March for $250 each. Mountaineer's target ending inventory is $10,000 plus 60% of the next month's cost of goods sold. Prepare Mountaineer's inventory, purchases, and cost of goods sold budget for January and February.

Mountaineer Company
Inventory, Purchases, and Cost of Goods Sold Budget
Two months Ended January 31 and February 28
	January	February
Cost of goods sold
Plus: Desired ending merchandise inventory
Total merchandise inventory required
Less: Beginning merchandise inventory
Budgeted purchases

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