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Question - Purchases budget
Brooklyn Furniture, a retail store, has an average gross profit ratio of 46%. The sales forecast for the next four months follows:
July - $250,000
August - 220,000
September - 310,000
October - 400,000
Management's inventory policy is to have ending inventory equal to 300% of the cost of sales for the subsequent month, although it is estimated that the cost of inventory at June 30 will be $410,000.
Required: Calculate the purchases budget, in dollars, for the months of July and August.
The following information relates to Linda Stanley Co. for the year 2010.
Salem trading company unadjusted trial balance Dec 31, 2016. Prepare adjusting journal entries for the following and post to the T-accounts.
the dean of the school of natural science is trying to decide whether to purchase a copy machine to place in the lobby
on january 6 petro co. sells merchandise on account to chose inc for 9200 terms 110 n30. on january 16 chose pays the
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one client had indicated that they were interested in purchasing 42500 worth of products so the bookkeeper recorded the
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