Sandys Office Supplies distributes office furniture. The companys fiscal year ends on March 31, 2017. On January

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

Question:

Sandy’s Office Supplies distributes office furniture. The company’s fiscal year ends on March 31, 2017. On January 31, 2017, one department in the company had in inventory 20 office suites that cost $1,800 each. During the quarter, the department purchased merchan- dise on account as follows: Units Unit Cost Total January 60 $1,850 $111,000 February 40 1,900 76,000 March 30 1,950 58,500 Sales for each month in the quarter were as follows: Units Unit Selling Price Total January 50 $3,600 $180