Fosnight Enterprises prepared the following sales budget: The expected gross profit rate is 20% and the inventory at the end of February was $12,000. Desired inventory levels at the end of the month are 10% of the next month's cost of goods sold.
What are the total purchases budgeted for April?

Question

Fosnight Enterprises prepared the following sales budget:  The expected gross profit rate is 20% and the inventory at the end of February was $12,000. Desired inventory levels at the end of the month are 10% of the next month's cost of goods sold.
What are the total purchases budgeted for April?

Quizplus · Accepted Answer

The Answer of Fosnight Enterprises prepared the following sales budget:  The expected gross profit rate is 20% and the inventory at the end of February was $12,000. Desired inventory levels at the end of the month are 10% of the next month's cost of goods sold.
What are the total purchases budgeted for April?

Fosnight Enterprises Prepared the Following Sales Budget: the Expected