Spartan Corporation projects the dollar value of the companys cost of goods sold to be $160,000 in June, $169,000 in July, and $154,000 in August The dollar value of its desired ending inventory is 25 percent of the following months cost of goods sold Compute the total purchases in dollars budgeted...

June July Ending inventory 42250 38500 Cost of goods sold 160000 169000 ...

Spartan Corporation projects the dollar value of the companys cost of goods sold to be $160,000 in

Question:

Spartan projects the dollar value of the company’s cost of goods sold to be $160,000 in June, $169,000 in July, and $154,000 in August. The dollar value of its desired 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 July.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...