(Answered) Eller company estimates that 2017 sales will be 42800 in

Accounting

Eller Company estimates that 2017 sales will be $42,800 in quarter 1, $51,300 in quarter 2, and $58,300 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending finished goods inventory equal to 18% of the next quarter's expected cost of goods sold.

Prepare a merchandise purchases budget by quarter for the first 6 months of 2017.

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