The Thomas Company has a sales budget for the next month of $1,000,000. Cost of goods sold
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- The Thomas Company has a sales budget for the next month of $1,000,000.
- Cost of goods sold is expected to be 25 percent of sales.
- All goods are paid for in the month following the purchase.
- Beginning merchandise inventory is $50,000 and ending inventory of $64,000 is desired.
- Beginning accounts payable is $160,000.
For Thomas Company, what must be final accounts payable?
Related Book For
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-0078025662
10th edition
Authors: Ronald Hilton, David Platt
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