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Solomon Company sells lamps and other lighting foxtures. The purchasing department manager prepared the following inventory purchases budget. Solomon's policy is to maintain an ending

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Solomon Company sells lamps and other lighting foxtures. The purchasing department manager prepared the following inventory purchases budget. Solomon's policy is to maintain an ending inventory balance equal to 20 percent of the following month's cost of goods sold. April's budgeted cost of goods sold is 583.000. Required a. Complete the inventory purchases budget by filling in the missing amounts b. Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement c. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter Complete this question by entering your answers in the tabs below. Complete the inventory purchases budget by filling in the missing amounts. tory Purchases Budget January February March Budgeted cost of goodies $ 2.000 3 8.000 $ 2.000 Plus Desired ending inventory 11.2001 horred 63.2001 Loss Beginning inventory 0.400 Required purchases on $ 52,000 Regande > MacBook Air Solomon Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following Inventory purchases budget. Solomon's policy is to maintain an ending inventory balance equal to 20 percent of the following month's cost of goods sold. April's budgeted cost of goods sold is $83,000. Required a. Complete the inventory purchases budget by filling in the missing amounts. b. Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. c. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter Complete this question by entering your answers in the tabs below. Rega Reg B and c Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter. b. Cost of goods sold c. Ending inventory MacBook Air

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