Question
The following forecasted sales pertain to Hamston Corporation: Month Sales Units September 90,000 October 110,000 November 65,000 December 55,000 Collection pattern: 45% percent in month
The following forecasted sales pertain to Hamston Corporation:
| Month | Sales Units | |
| September | 90,000 | |
| October | 110,000 | |
| November | 65,000 | |
| December | 55,000 | |
| Collection pattern: | 45% | percent in month of sale |
| 55% | percent in month following sale | |
| Accounts Receivable (August 31): | $37,400 | |
| Finished Goods Inventory (August 31): | 36,000 |
Hamston Corporation has a selling price of $20 per unit and expects to maintain ending inventories equal to 40 percent of the next month's sales.
a. What is the beginning inventory balance in units for the month of September? 0 decimals
b. what is the ending inventory balance in $ for the month of November? 0 decimals
The following forecasted sales pertain to Hamston Corporation:
| Month | Sales Units | |
| September | 90,000 | |
| October | 110,000 | |
| November | 65,000 | |
| December | 55,000 | |
| Collection pattern: | 45% | percent in month of sale |
| 55% | percent in month following sale | |
| Accounts Receivable (August 31): | $37,400 | |
| Finished Goods Inventory (August 31): | 36,000 |
Hamston Corporation has a selling price of $20 per unit and expects to maintain ending inventories equal to 40 percent of the next month's sales.
a. What is the beginning inventory balance in units for the month of September? 0 decimals
b. what is the ending inventory balance in $ for the month of November? 0 decimals
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Financial and managerial accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
1st edition
111800423X, 9781118233443, 1118016114, 9781118004234, 1118233441, 978-1118016114
