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Trailers Company expects to sell 8,500 units for $175 each for a total of $1,487,500 in January and 1,500 units for $195 each for a total of $292,500 in February. The company expects cost of god told to average 60% of sales revenue, and the company expects to sell 4.700 units in March for $200 each. Trailers' target ending inventory is $17,000 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 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 February Crime

Trailers Company expects to sell 8,500 units for $175 each for a total of $1,487,500 in January and 1,500 units for $195 each for a total of $292,500 in February. The company expects cost of god told to average 60% of sales revenue, and the company expects to sell 4.700 units in March for $200 each. Trailers' target ending inventory is $17,000 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 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 February Crime

FINANCIAL ACCOUNTING
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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Trailers Company expects to sell 8,500 units for $175 each for a total of $1,487,500 in January and 1,500 units for $195 each for a total of $292,500 in February. The company expects cost of goods sold to average 60% of sales revenue, and the company expects to sell 4,700 units in March for $200 each. Trailers' target ending inventory is $17,000 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 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 February Gize
Transcribed Image Text:Trailers Company expects to sell 8,500 units for $175 each for a total of $1,487,500 in January and 1,500 units for $195 each for a total of $292,500 in February. The company expects cost of goods sold to average 60% of sales revenue, and the company expects to sell 4,700 units in March for $200 each. Trailers' target ending inventory is $17,000 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 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 February Gize
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