Question
The O'Brien Company has the following information available: Month Budgeted Sales Jan $150,000 Feb 153,000 March 151,000 April 254,500 May 252,500 The gross profit rate
The O'Brien Company has the following information available:
Month Budgeted Sales
Jan $150,000
Feb 153,000
March 151,000
April 254,500
May 252,500
The gross profit rate is 20% and the desired ending inventory level is 10% of the next month's cost of sales.
Required:
Prepare purchase and cost of goods sold budget for Feb, March, and April.
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Accounting A Smart Approach
Authors: Mary Carey, Cathy Knowles, Jane Towers-Clark
3rd Edition
0198745133, 978-0198745136
