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Home Q & A Board Other Fields Homework Help Business Accounting
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7 years ago
Freighters, Inc. has the following budgeted figures:

Calculate the budgeted purchases for the month of January.

   Jan   Feb   Mar   April
Sales   $54,100   $69,000   $86,000   $99,000
Cost of goods sold   50% of sales         
Required ending inventory   $10,000 + 20% of next month's sales         
Inventory on hand on Jan 1   $27,000         

A) $3,250
B) $23,850
C) $23,800
D) $50,850
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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#2
7 years ago
Makes perfect sense, thx
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