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beautiful_soul1
Jun 21, 2009, 10:01 PM
How do you complete a Merchandise Purchase budget for Nov and Dec
Information given....

The cost of goods sold is 80% of sales
The company purchases 70% of its merchandise in the month prior to the month of sale
30% in the month of the sale. Payment for merchandise is made in the month following the sale.

Budget sales: 490,000 Nov; 460,000 Dec; 440,000 Jan
COGS budet sales (.80*490,000)- nov ; (.80*460,000)- dec ; (.80*440,000) - jan

I am not sure what to do next..... can you help out please???