shamorck shades operates in mall kisok throughout the southwestern US . shamrock

Question

shamorck shades operates in mall kisok throughout the southwestern US . shamrock purchases sunglasses from bulk discounters aND SELLS THE SUNGLASSES IN THE MALL KIOSK. shamrock is in the process of budgeting for the coming year and has projected sales $ 400,000 for january 480,000 for february 640,000 for march and 680,000 for april. Shamrock desired ending inventory is 25 percent of the following month cost of goods sold. The cost of goods sold is expeected to be 40 percent of sales

Required

Compute the required purchase for each month of the first quarter ( jan-march)

Explanation / Answer

Jan Feb March

$ $ $

Closing Stock 48,000 64,000 68,000

+ Cost of Goods Sold 1,60,000 1,92,000 2,56,000

(-) Opening Stock (40,000) (48,0000) (64,000)

Purchases 1,68,000 2,08,000 2,60,000

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