Li Company forecasts unit sales of 640,000 in April, 720,000 in May, 780,000 in June, and 620,000

Question:

Li Company forecasts unit sales of 640,000 in April, 720,000 in May, 780,000 in June, and 620,000 in July. Beginning inventory on April 1 is 192,000 units, and the company wants to have 30% of next month’s sales in inventory at the end of each month. Prepare a merchandise purchases budget for the months of April, May, and June.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Fundamental Accounting Principles

ISBN: 978-0078110870

20th Edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

Question Posted: