Hard corporation projects sales of 230000 in may 250000 in, Ask an Expert

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Hard Corporation projects sales of $230,000 in May, $250,000 in June, $260,000 in July, and $240,000 in August. Since the dollar value of the company's cost of goods sold is generally 65 percent of total sales, cost of goods sold is $149,500 in May, $162,500 in June, $169,000 in July, and $156,000 in August. The dollar value of its desired ending inventory is 25 percent of the following month's cost of goods sold. Compute the total purchases in dollars budgeted for June and the total purchases in dollars budgeted for June and the total purchases in dollars budgeted for July.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9981968

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