Trailers Company expects to sell 6,500 units for $155 each for a total of $1,007,500 in January and 2,300 units for $200 each for a total of $460,000 in February. The company expécts cost of goodssold to average 50% of sales revenue, and the company expects to sell 5,000 units in March for $200 each. Trailers' target ending inventory is $20,000 plus 50% of the next month's cost of goods sold.Prepare Trailers' inventory, purchases, and cost of goods sold budget for January and February.Trailers CompanyInventory, Purchases, and Cost of Goods Sold BudgetTwo months Ended January 31 and February 28JanuaryCost of goods soldPlus: Desired ending merchandise inventoryTotal merchandise inventory requiredLess: Beginning merchandise inventoryBudgeted purchases503750135000638750February230000520000750000

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Description: Trailers Company expects to sell 6,500 units for $155 each for a total of $1,007,500 in January and 2,300 units for $200 each for a total of $460,000 in February. The company expécts cost of goodssold to average 50% of sales revenue, and the company

Answer) Calculation of Budgeted Purchases for January and February January February…

Business

Accounting

purchases, and cost of goods sold budget for January and February. Trailers Company Inventory, Purchases, and Cost of Goods Sold Budget Two months Ended January 31 and February 28 January Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases 503750 135000 638750 February 230000 520000 750000 (...)

purchases, and cost of goods sold budget for January and February. Trailers Company Inventory, Purchases, and Cost of Goods Sold Budget Two months Ended January 31 and February 28 January Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases 503750 135000 638750 February 230000 520000 750000 (...)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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