Orion Traders has projected sales of $375,000 in June and $455,000 in July. • • • Cost of goods sold = 60% of sales Desired ending inventory = 25% of next month's COGS Beginning inventory for June = 25% of June COGS Compute required purchases for June.

Orion Traders has projected sales of $375,000 in June and $455,000 in July. • • • Cost of goods sold = 60% of sales Desired ending inventory = 25% of next month's COGS Beginning inventory for June = 25% of June COGS Compute required purchases for June.

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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Question

How can I solve this financial accounting problem using the appropriate financial process?

Orion Traders has projected sales of $375,000 in June and
$455,000 in July.
•
•
•
Cost of goods sold = 60% of sales
Desired ending inventory = 25% of next month's COGS
Beginning inventory for June = 25% of June COGS
Compute required purchases for June.

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