Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Purchases Budget Tiger Drug Store carries a variety of health and beauty aids, including $00-count bottles of vitamins. The sales budget for vitamins for the

image text in transcribed
image text in transcribed
Purchases Budget Tiger Drug Store carries a variety of health and beauty aids, including $00-count bottles of vitamins. The sales budget for vitamins for the first six months of the year is presented below Unit Sales Dollar Sales January 130 $1,170 February 120 1,080 March 140 1.260 April 150 1,350 May 170 1,530 June 160 1.440 The owner of Tiger Drug believes that ending inventories should be sufficient to cover 10 percent of the next month's projected sale on January 1, 24 Bottles of vitamin were in inventory Required: 1. Prepare a merchandise purchases budget in bottles of Vitamina for as many months as you can Tiger Drug Store Merchandise Purchases Budget January February March April 130 120 140 150 May 170 Unit sales Desired E 14 14 13 15 14 Total needed 164 14 15 165 III Unit purchases 2. If vitamins are priced at cost plus 80 percent, what is the dollar cost of purchases for each month of your purchases budget? January February March April May

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions