Harrison Company has the following information: $$\begin{array} { l l }
\text { Month } & \text { BudgetedS ales } \
\text { June } & \$ 68,000 \
\text { July } & 72,000 \
\text { August } & 74,000 \
\text { Septemb er } & 76,000 \
\text { October } & 78,000
\end{array}$$ The cost of goods sold percentage is 65% and the desired ending inventory level is 25% of next month's sales. Required:
Prepare a purchases budget for July through September.

Question

Harrison Company has the following information: $$\begin{array} { l l } 
\text { Month } & \text { BudgetedS ales } \
\text { June } & \$ 68,000 \
\text { July } & 72,000 \
\text { August } & 74,000 \
\text { Septemb er } & 76,000 \
\text { October } & 78,000
\end{array}$$ The cost of goods sold percentage is 65% and the desired ending inventory level is 25% of next month's sales. Required:
Prepare a purchases budget for July through September.

Quizplus · Accepted Answer

The Answer of Harrison Company has the following information: $$\begin{array} { l l } 
\text { Month } & \text { BudgetedS ales } \
\text { June } & \$ 68,000 \
\text { July } & 72,000 \
\text { August } & 74,000 \
\text { Septemb er } & 76,000 \
\text { October } & 78,000
\end{array}$$ The cost of goods sold percentage is 65% and the desired ending inventory level is 25% of next month's sales. Required:
Prepare a purchases budget for July through September.

Harrison Company Has the Following Information The Cost of Goods Sold Percentage Is 65% and the }