Budgeted purchases for the fourth quarter problem, Accounting Basics

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Budgeted purchases for the fourth quarter problem

Barrett's Fashions forecast sales of $125,000 for the quarter ended December 31. Its gross profit rate is 20% of sales, and its September 30 inventory is $32,500. If the December 31 inventory is targeted at $41,500, budgeted purchases for the fourth quarter should be:

A. $134,000

B. $109,000

C. $91,500

D. $25,000

E. $91,000

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Accounting Basics: Budgeted purchases for the fourth quarter problem

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Accounting Basics: Budgeted purchases for the fourth quarter problem

Reference No:- TGS081427

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Cost of completed goods on hand

Q : How much is raw materials transferred to production

Q : How much would hollern report for cost of goods manufactured

Q : Prepare summary journal entries related to the sale

Q : Budgeted purchases for the fourth quarter problem

Q : Compute the lower of cost or market for ending inventory

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Q : Total coloring

Q : Calculate the lower of cost or market for ending inventory

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Budgeted purchases for the fourth quarter problem

Reference No:- TGS081427

Recent Questions Asked Accounting Basics

Q : Cost of completed goods on hand

Q : How much is raw materials transferred to production

Q : How much would hollern report for cost of goods manufactured

Q : Prepare summary journal entries related to the sale

Q : Budgeted purchases for the fourth quarter problem

Q : Compute the lower of cost or market for ending inventory

Q : Database design concepts

Q : Total coloring

Q : Calculate the lower of cost or market for ending inventory

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