At the beginning of 2015,England Dresses has an inventory of $140,000.However,management wants to reduce the amount of inventory on hand to $80,000 at December 31.If net sales for 2015 are forecast at $400,000 and the gross profit rate is expected to be 40%,compute the cost of the merchandise which management should expect to purchase during 2015.(Hint: First compute the expected cost of goods sold.)

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The Answer of At the beginning of 2015,England Dresses has an inventory of $140,000.However,management wants to reduce the amount of inventory on hand to $80,000 at December 31.If net sales for 2015 are forecast at $400,000 and the gross profit rate is expected to be 40%,compute the cost of the merchandise which management should expect to purchase during 2015.(Hint: First compute the expected cost of goods sold.)

At the Beginning of 2015,England Dresses Has an Inventory of $140,000.However,management