Abc retailing company prices it's products by adding 30% to its cost.abc  anticipates sales of $ 715000 in July. $728000 in August & $ 624000 in September. Abc policy is to have on hand enough inventory at the end of the month to cover 25% of the next month's sales.what will be the cost of the inventory that abc should budget for purchase in August?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Abc retailing company prices it's products by adding 30% to its cost.abc  anticipates sales of $ 715000 in July. $728000 in August & $ 624000 in September. Abc policy is to have on hand enough inventory at the end of the month to cover 25% of the next month's sales.what will be the cost of the inventory that abc should budget for purchase in August?

 

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