Julies' Merchandise has budgeted sales as follows for the third quarter of the year: July $ 4
Question:
Julies' Merchandise has budgeted sales as follows for the third quarter of the year:
July $
August $
September $
Cost of goods sold in the company is equal to of sales. The company wants to maintain a monthly ending inventory equal to of the cost of goods sold for the following month. The inventory on June is $ The company is now preparing a merchandise purchase budget for July, August, and September.
Do not enter dollar signs or commas in the input boxes.
Do not use the negative sign.
Round all answers to the nearest whole number.
a What is the total merchandise needs for the month of July?
Merchandise to be sold $Answer
Desired ending inventory $Answer
Total merchandise needs for July $Answer
b What is budgeted purchases in the month of August?
Merchandise to be sold $Answer
Desired Ending Inventory $Answer
Beginning Inventory $Answer
Merchandise to be purchased $Answer
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer