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Q1) At March 31 Sterling Enterprises, merchandising firm, had inventory of 38,000 units, and it had accounts receivable totaling $85,000. Sales, in units, have been budgeted as given for next four months:

April.................. 60,000

May...................75,000

June...................90,000

July.....................81,000

Sterling's board of directors has established policy to commence in April that inventory at the ending of month must contain 40% of units required for following month's budgeted sales.

Create a merchandise purchases budget illustrating how many units should be bought for each of months April, May, and June.

Accounting Basics, Accounting

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  • Reference No.:- M918125

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