Griffith Company has budgeted purchases of inventory for December of $105,000. Expected beginning inventory on December 1 and ending inventory on December 31 are $120,000 and $129,000, respectively. If the cost of goods sold averages 75% of sales, what are budgeted sales for December? A. $114,000 B. $152,000 C. $120,000 D. $128,000
Griffith Company has budgeted purchases of inventory for December of $105,000. Expected beginning inventory on December 1 and ending inventory on December 31 are $120,000 and $129,000, respectively. If the cost of goods sold averages 75% of sales, what are budgeted sales for December? A. $114,000 B. $152,000 C. $120,000 D. $128,000
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 15E: Palmgren Company produces consumer products. The sales budget for four months of the year is...
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![Griffith Company has budgeted purchases of inventory for
December of $105,000. Expected beginning inventory on
December 1 and ending inventory on December 31 are $120,000
and $129,000, respectively.
If the cost of goods sold averages 75% of sales, what are
budgeted sales for December?
A. $114,000
B. $152,000
C. $120,000
D. $128,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F091c9b5c-b47a-40ba-a8f3-fc57c25067e7%2F191045a2-56db-4a75-a02b-c3f95ee58bcc%2F1hte99_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Griffith Company has budgeted purchases of inventory for
December of $105,000. Expected beginning inventory on
December 1 and ending inventory on December 31 are $120,000
and $129,000, respectively.
If the cost of goods sold averages 75% of sales, what are
budgeted sales for December?
A. $114,000
B. $152,000
C. $120,000
D. $128,000
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