Question regarding the merchandise budgeting

Assignment Help Accounting Basics
Reference no: EM13766515

Merchandise Budgeting

Using the following data, develop a monthly merchandise budget using the basic stock method (BSM) and the percentage variation method (PVM).

The Corner Hardware Store is attempting to develop a merchandise budget for the next 12 months. To assist in this process, the following data have been developed. The target inventory turnover is 4.8 and forecast sales are (Month/Forecast Sales):

Jan./\$27,000; Feb./\$26,000; Mar./\$20,000; Apr./\$ 34,000; May/\$41,000; Jun./\$40,000

Jul./\$28,000; Aug./\$27,000; Sep./\$38,000; Oct./\$39,000; Nov./\$26,000; Dec./\$28,000

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