Calculate the purchases budget for the months of July

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Reference no: EM132221753

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.

Reference no: EM132221753

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