(Answered) Problem - gerdie company has the following informationmonth

Accounting

Problem - Gerdie Company has the following information:

Month Budgeted Sales

March $50,000

April 53,000

May 51,000

June 54,500

July 52,500

In addition, the gross profit rate is 40% and the desired inventory level is 30% of next month's cost of sales.

Required: Prepare a purchases budget for April through June.

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