Question
Sentra Sporting Company sells tennis rackets and other sporting equipment. The purchasing department manager prepared the inventory purchases budget Sentra's policy is to maintain
Sentra Sporting Company sells tennis rackets and other sporting equipment. The purchasing department manager prepared the inventory purchases budget Sentra's policy is to maintain an ending inventory balance equal to 15% of the following month's cost of goods sold. January's budgeted cost of goods sold is $105,000 October November December 95,000 25,000 85.000 Budgeted Cost of Goods Sold Plus: Desired Ending Inventory 20,000 Inventory Needed 2 115,000 > Less: Beginning Inventory 10,000 Required purchases (on Account) 99,000 > What would be the required purchases (on account) for December
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
7th edition
978-0077632427, 77632427, 78025656, 978-0078025655
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