Freighters Inc. has the following budgeted figures: Jan Feb Mar April Sales $50,000 $65,000 $80,000 $95,000 Cost
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Question:
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
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