Can you help me solve this general accounting question using valid accounting techniques? Harrison Corporation purchases a single product for $15and sells it for $20. Forecasted sales for the next threemonths are October 5,000 units, November 6,500 units,and December 8,000 units. Harrison's policy is to have anending inventory of 50% of the next month's sales needson hand. The October 1 inventory is projected to be 2,200units. What are the budgeted purchases in units forNovember?A. 6,500 unitsB. 7,500 unitsC. 5,700 unitsD. 8,200 units

Budgeted purchases = Budgeted sales + Required ending inventory - Beginning inventoryBudgeted…

Answered: Harrison Corporation purchases a single…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 2EB: How many units are in beginning inventory if 32,000 units are budgeted for sales, 35,000 units are...

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A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and the remainder are credit sales. The company finds that typically 10 percent of a months credit sales are paid in the month of sale, 70 percent are paid the next month, and 15 percent are paid in the second month after sale. Expected cash receipts in July are budgeted at what amount? a. 114,520 b. 143,150 c. 145,720 d. 156,000
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