Question
The manager of MN Company give you the following data to prepare the required purchases for the coming three months : Estimated sales for January
The manager of MN Company give you the following data to prepare the required purchases for the coming three months :
Estimated sales for January $60,000.00
Sales increase by 5% for the coming three months
Cost of goods sold (CGS) 60% of sales
Beginning inventory $10,000.00
Ending inventory equal to 20% of next month CGS
Estimated purchases for January should be between:
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Intermediate Accounting
Authors: kieso, weygandt and warfield.
14th Edition
9780470587232, 470587288, 470587237, 978-0470587287
