## Answers

Solution

Purchases Budget | ||||

July | August | September | ||

Cost of goods sold | $ 67,200 | $ 50,400 | $ 75,600 | |

Plus: Desired ending inventory | $ 12,600 | $ 18,900 | $ 14,700* | |

Total Inventory required | $ 79,800 | $ 69,300 | $ 90,300 | |

Less: Beginning inventory | $ 16,000 | $ 12,600 | $ 18,900 | |

Purchases | $ 63,800 | $ 56,700 | $ 71,400 |

*58,800 x 25%

.Working

July | August | September | October | |

Sales | $ 96,000.00 | $ 72,000.00 | $ 108,000.00 | $ 84,000.00 |

Cost of goods sold (70% of above) | $ 67,200.00 | $ 50,400.00 | $ 75,600.00 | $ 58,800.00 |

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