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The cost of December merchandise purchases would be: Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: -
The cost of December merchandise purchases would be:
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: - Sales are budgeted at $330,000 for November, $310,000 for December, and $300,000 for January. - Collections are expected to be 50% in the month of sale and 50% in the month following the sale. - The cost of goods sold is 75% of sales. - The company would like to maintain ending merchandise inventories equal to 65% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. - Other monthly expenses to be paid in cash are $23,900. - Monthly depreciation is $14,900. - Ignore taxesStep by Step Solution
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