FUND ACCOUNTING PRINCIPLES BUNDLE
FUND ACCOUNTING PRINCIPLES BUNDLE
25th Edition
ISBN: 9781265380311
Author: Wild
Publisher: MCG
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Chapter 8, Problem 7DQ

Which of the following assets—inventory, building, accounts receivable, or cash—is most liquid? Which is least liquid?

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Regency Distributors wants an ending inventory each month equal to 20% of that month's cost of sales. Cost of sales for April is projected at $150,000. Ending inventory at the end of March was $25,000. Based on this information, purchases for April will be: a. $125,000 b. $130,000 c. $145,000 d. $155,000
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