5. Wallace Corporation has a sales budget for next month of $400,000. Cost of goods sold...

  

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5. Wallace Corporation has a sales budget for next month of $400,000. Cost of goods sold is expected to be $200,000. All goods are paid for in the month following their purchase. The beginning inventory of merchandise is $16,000, and an ending inventory of $12,000 is desired. Beginning accounts payable is $52,000. How much merchandise inventory will Wallace need to purchase next month? 5. Wallace Corporation has a sales budget for next month of $400,000. Cost of goods sold is expected to be $200,000. All goods are paid for in the month following their purchase. The beginning inventory of merchandise is $16,000, and an ending inventory of $12,000 is desired. Beginning accounts payable is $52,000. How much merchandise inventory will Wallace need to purchase next month?

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