Question
Tony's Fashions forecasts sales of $312,000 for the quarter ended December 31. The company's gross profit rate averages 20% of sales. Inventory as of September
Tony's Fashions forecasts sales of $312,000 for the quarter ended December 31. The company's gross profit rate averages 20% of sales. Inventory as of September 30 is $112,000. If the December 31stinventory is targeted at $52,000, budgeted purchases for the quarter should be:
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
11th edition
978-1111530266
