Freighters Inc. has the following budgeted figures:

	Jan	Feb	Mar	April
Sales	$50,000	$65,000	$80,000	$95,000
Cost of goods sold	60% of sales	60% of sales	60% of sales	60% of sales
Required ending inventory	$15,000+25% of sales of next month	$15,000+25% of sales of next month	$15,000+25% of sales of next month	$15,000+25% of sales of next month
Inventory on hand on Jan 1st	$27,500

Calculate the budgeted purchases for the month of January.

A) $40,250

B) $52,000

C) $33,750

D) $51,750

Answer rating: 100% (QA)

Answer Solution For the month of january Cost of goods sold 60 ... View the full answer