Krakto Ltd marks its inventory up by 60% of cost. Inventory at cost at the beginning of
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Krakto Ltd marks its inventory up by 60% of cost. Inventory at cost at the beginning of May is R120 000 which, as a policy, represents the anticipated sales for May. Management plans as a matter of policy to reduce inventory by 40%. If sales for June are budgeted at R240 000, calculate the May purchases if the new policy is implemented.
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To calculate the May purchases under the new policy we need to follow the given information and step...View the full answer
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