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Tuscarora, Inc., a merchandising company, has the following budgeted figures: Feb April $95,000.00 Jan Mar Sales $59,000.00 $67,000.00 $84,000.00 Cost of goods sold 50% of sales $10,000.00 + 25% of next month's sales Required ending inventory Inventory on hand on Jan 1 Calculate the budgeted purchases for the month of January. $30,000.00 O A. $26,750.00 B. $2,750.00 C. $26,250.00 O D. $56,250.00

Tuscarora, Inc., a merchandising company, has the following budgeted figures: Feb April $95,000.00 Jan Mar Sales $59,000.00 $67,000.00 $84,000.00 Cost of goods sold 50% of sales $10,000.00 + 25% of next month's sales Required ending inventory Inventory on hand on Jan 1 Calculate the budgeted purchases for the month of January. $30,000.00 O A. $26,750.00 B. $2,750.00 C. $26,250.00 O D. $56,250.00

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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Tuscarora, Inc., a merchandising company, has the following budgeted figures: Jan April $95,000.00 Feb Mar Sales $59,000.00 $67,000.00 $84,000.00 Cost of goods sold 50% of sales $10,000.00 + 25% of next Required ending inventory Inventory on hand on Jan 1 Calculate the budgeted purchases for the month of January. month's sales $30,000.00 A. $26,750.00 B. $2,750.00 OC. $26,250.00 O D. $56,250.00
Transcribed Image Text:Tuscarora, Inc., a merchandising company, has the following budgeted figures: Jan April $95,000.00 Feb Mar Sales $59,000.00 $67,000.00 $84,000.00 Cost of goods sold 50% of sales $10,000.00 + 25% of next Required ending inventory Inventory on hand on Jan 1 Calculate the budgeted purchases for the month of January. month's sales $30,000.00 A. $26,750.00 B. $2,750.00 OC. $26,250.00 O D. $56,250.00
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