hi teacher provide answer General accounting ABC Retail has the following sales forecast:•March: $800,000April: $900,000•May: $750,000June: $950,000ABC has a 35% gross margin percentage. Inventory atMarch 1 is $100,000. The company maintains endinginventory at 25% of next month's cost of goods sold.Calculate ABC's required purchases for March. (Note:COGS % is 65%)

Step 1: Definition of Required PurchasesRequired Purchases is the amount of inventory that a company…

Answered: ABC Retail has the following sales…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 1R: Ranger Industries has provided the following information at June 30: Other information: Average...

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