Willard's Department Store has budgeted cost of goods sold of $42,000 for its men's shorts in March.Management also wants to have $7,600 of men's shorts in inventory at the end of March to prepare for the summer season.Beginning inventory of men's shorts for March is expected to be $5,500.What dollar amount of men's shorts should be purchased in March?

Question

Quizplus · Accepted Answer

B)
Cost of Goods Sold $42,000
+ EI 7,600
= Goods Available 49,600
Less BI 5,500
= Purchases 44,100

Willard's Department Store Has Budgeted Cost of Goods Sold of $42,000