Tuscarora,Inc.,a merchandising company,has the following budgeted figures: Calculate the budgeted purchases for the month of January.

Name: Tuscarora,Inc.,a merchandising company,has the following budgeted figures: Calculate the budgeted purchases for the month of January.
Brand: Quizplus
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Question

Tuscarora,Inc.,a merchandising company,has the following budgeted figures:  Calculate the budgeted purchases for the month of January.

Quizplus · Accepted Answer

Budgeted purchases = Cost of goods sold + Ending inventory - Beginning inventory
= $224,500 + $23,850 - $21,950
= $226,400 - $21,950
= $204,450
Therefore, the budgeted purchases for the month of January is $23,850.