Swenson, Inc. solls tire rims Its sales budget for the nine months ended September 30, 2018...
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Swenson, Inc. solls tire rims Its sales budget for the nine months ended September 30, 2018 and additional information follow (Click the icon to view additional information) (Click the icon to view the budget) Prepare an inventory, purchases, and cost of goods sold budget for each of the first three quarters of the year. Compute cost of goods sold for the entire nine-month period Swenson, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Cost of goods sold Plus Desired onding merchandise inventory Total merchandise inventory required Less Beginning merchandise inventory Budgeted Purchases Quarter Ended March 31 Save 500 ventory, purchase and cost of anode is sold red ending met andise inventor inning merchan Purchases Data table Cash sales, 20% Credit sales, 80% Total sales $ the fest theo nuactors of the leac Computa.cost.al.ooods.cold for the entire nine month March 31 S Quarter Ended June 30 September 30 35,000 $ 140,000 175,000 $ 25,000 $ 100,000 125,000 $ Print Done Nine-Month Total 30,000 $ 120,000 150,000 $ 90,000 360,000 450,000 Clear all Check answer Incorrect:0 (1) √2) ng mercha ventory re orchandise LUSE 86s sold budget for each of the first three quarters of the year Compute cost of goods sold for the entire nine-month More info In the past, cost of goods sold has been 40% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $35,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $225,000 during the fourth quarter. The January 1 inventory was $37,000 Print Done -X nirer all Check answer Incorrect: 0 (1) √2) Swenson, Inc. solls tire rims Its sales budget for the nine months ended September 30, 2018 and additional information follow (Click the icon to view additional information) (Click the icon to view the budget) Prepare an inventory, purchases, and cost of goods sold budget for each of the first three quarters of the year. Compute cost of goods sold for the entire nine-month period Swenson, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Cost of goods sold Plus Desired onding merchandise inventory Total merchandise inventory required Less Beginning merchandise inventory Budgeted Purchases Quarter Ended March 31 Save 500 ventory, purchase and cost of anode is sold red ending met andise inventor inning merchan Purchases Data table Cash sales, 20% Credit sales, 80% Total sales $ the fest theo nuactors of the leac Computa.cost.al.ooods.cold for the entire nine month March 31 S Quarter Ended June 30 September 30 35,000 $ 140,000 175,000 $ 25,000 $ 100,000 125,000 $ Print Done Nine-Month Total 30,000 $ 120,000 150,000 $ 90,000 360,000 450,000 Clear all Check answer Incorrect:0 (1) √2) ng mercha ventory re orchandise LUSE 86s sold budget for each of the first three quarters of the year Compute cost of goods sold for the entire nine-month More info In the past, cost of goods sold has been 40% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $35,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $225,000 during the fourth quarter. The January 1 inventory was $37,000 Print Done -X nirer all Check answer Incorrect: 0 (1) √2)
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Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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