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Company A, a merchandising firm, has budgeted sales for the third quarter of the year:

July: 80,000
August: 90,000
September:70,000

Cost of goods sold equals 65% of sales. The company wants to maintain a monthly ending inventory equal to 130% of the cost of goods sold for the following month. The inventory on June 30th is less than this ideal since it is only 65,000. The company is now preparing a merchandise budget.

find out the following:

What are the budgeted purchases for July?

What is the desired inventory for September?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M945936

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