Question
The budgeted sales for Jan, Feb and March are $40,000, $90,000 and $80,000 respectively. The inventory policy is to keep 80% COS of the following
The budgeted sales for Jan, Feb and March are $40,000, $90,000 and $80,000 respectively. The inventory policy is to keep 80% COS of the following month plus 40% COS of the second following month.
What is budgeted purchase amount for January if
the cost of sales (COS) is 75% and the beginning Inventory is $68,000?
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College Accounting Chapters 1-30
Authors: David Haddock, John Price, Michael Farina
16th Edition
1260247902, 978-1260247909
