Answer the following questions using the information below:
Wallace Company provides the following data for next year:
The gross profit rate is 40% of sales. Inventory at the end of December is $21,600 and target ending inventory levels are 30% of next month's sales, stated at cost.
-Purchases budgeted for January total:

Question

Answer the following questions using the information below:
Wallace Company provides the following data for next year:
  The gross profit rate is 40% of sales. Inventory at the end of December is $21,600 and target ending inventory levels are 30% of next month's sales, stated at cost.
-Purchases budgeted for January total:

Quizplus · Accepted Answer

The correct choice is $69,840. This is likely calculated based on the budgeted purchases for January, considering factors such as sales forecasts, inventory levels, and cost of goods sold.

Answer the Following Questions Using the Information Below