Blossom Specialties, a retailer of West African food products, has completed the following sales forecast for the coming year: January $36,500 July $37,500 February 37,500 August 36,500 March 31,500 September 32,500 April 40,000 October 40,000 May 35,500 November 48,000 June 30,000 December 52,000 Blossom Specialties maintains an ending inventory level of 60 percent of the following month's cost of goods sold. The company's cost of goods sold is 30 percent of sales.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Blossom Specialties, a retailer of West African food products, has completed the following sales forecast for the coming year:
January
$36,500
July
$37,500
February
37,500
August
36,500
March
31,500
September
32,500
April
40,000
October
40,000
May
35,500
November
48,000
June
30,000
December
52,000
Blossom Specialties maintains an ending inventory level of 60 percent of the following month's cost of goods sold. The company's cost
of goods sold is 30 percent of sales.
Transcribed Image Text:Blossom Specialties, a retailer of West African food products, has completed the following sales forecast for the coming year: January $36,500 July $37,500 February 37,500 August 36,500 March 31,500 September 32,500 April 40,000 October 40,000 May 35,500 November 48,000 June 30,000 December 52,000 Blossom Specialties maintains an ending inventory level of 60 percent of the following month's cost of goods sold. The company's cost of goods sold is 30 percent of sales.
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