Question
The Rob Wallace Corporation has a sales budget for next month of $400,000. Cost of goods sold is expected to be $250,000. All goods are
The Rob Wallace Corporation has a sales budget for next month of $400,000. Cost of goods sold is expected to be $250,000. All goods are paid for in the month following their purchase. The beginning inventory of merchandise is $16,000, and an ending inventory of $12,000 is desired. Beginning accounts payable is $52,000.
How much merchandise inventory will The Rob Wallace Corporation need to purchase next month?
| a. | $250,000 |
| b. | $190,000 |
| c. | $246,000 |
| d. | $400,000 |
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Accounting And Social Theory An Introduction
Authors: Lisa Jack
1st Edition
1138100714, 9781138100718
