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Find budgeted merchandise purchases for september amount

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Reference no: EM132529494

Omaha Furniture Mart has the following information:

Month                               Budgeted Sales

June                             $68,000

July                                 72,000

August                              80,000

September                           76,000

October                                80,000

Question 1: The cost of merchandise sold is 60% of sales and the desired ending inventory level is 25% of next month's cost of merchandise sold. Budgeted merchandise purchases for September amount to

Option 1: $46,200

Option 2: $81,000

Option 3: $76,000

Option 4: $48,600

Option 5: $77,000

Option 6: $47,400

Reference no: EM132529494

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