mathxl.com Do Homework - jennifer sanchez ACG 2071 Fall 2017 ennifer sanchez Hom

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mathxl.com Do Homework - jennifer sanchez ACG 2071 Fall 2017 ennifer sanchez Homework: Ch. 11. Master Budget Score: 0 of 1 pt E9-34A (similar to) 80f 8 (0 complete) Hw Score: 0%, 0 of 8 pts Question Help * Readers sells eReaders. ts sales budget for the nine months ended September 30 follows (Click the icon to view the budget) In the past, cost of goods sold has been 60% of total sales. The should not be below $10,000 plus 15% The January 1 inventory was $21,700 Requirement of marketing and the financial vice president agree that each quarters ending inventory of cost of goods sold for the following quarter. The marketing director expects sales of $250.000 during the fourth quarter are a cost of goods sold, inventory, and purchases budget for each of the first three quarters of the year. Compute cost of goods sold for the entire nine-month period Scannell Readers Cost of Goods Sold, Inventory, and Purchases Budget For the Nine Months Ended September 30 Quarter Ended Mar 31 Jun 30 Sep 30 Total Cost of goods sold Enter any number in the edit fields and then click Check Answer All parts showing Clear All Check Answer

Explanation / Answer

Cost of goods sold, Inventory and purchase Budget is as prepared below:

Working:

Scannell Readers Cost of Goods Sold, Inventory and Purchase Budget For the Nine Months Ended September 30 Quarter Ended Nine- month Particulars Mar-31 Jun-30 Sep-30 Total Total sales 130,000 180,000 155,000 465,000 Cost of goods sold (60% of sales) 78,000 108,000 93,000 279,000 Add: Ending Inventory 26,200 23,950 32,500 32,500 Less: Opening Inventory 21,700 26,200 23,950 21,700 Cost of purchases 82,500 105,750 101,550 289,800

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