Question 20 yof 2 0.50 points Shammock Shades operates in mall kosk n the proces

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Question 20 yof 2 0.50 points Shammock Shades operates in mall kosk n the process of budgeting for the coming year and has projected sales of S470,000 nding inventory is 30 percent of the llowing nontscost of goods sold. Cost of goods sold a and sels he sunglasses in the mall k Shamrock is Jary $550,000 for February $710,000 for March, and $750,000 for Apri Shamock s expected to be 40 percent of sales Compuile the equired purchases for each month of the est quaror anuary-March) Check rs lock command option onrol option command

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Solution:

Merchandise Purchase Budget - Shamrock Shades Particulars January February March April Budgeted Sales $470,000.00 $550,000.00 $710,000.00 $750,000.00 Budgeted Cost of Goods Sold (40% of Sales) $188,000.00 $220,000.00 $284,000.00 $300,000.00 Add: Desired ending merchandise inventory (30% of next month COGS) $66,000.00 $85,200.00 $90,000.00 Total Needs $254,000.00 $305,200.00 $374,000.00 Less: Beginning inventory $56,400.00 $66,000.00 $85,200.00 Required purchases $197,600.00 $239,200.00 $288,800.00

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