Brarin corporation is a small wholesaler of gourmet food

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Brarin Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:Sales are budgeted at $360,000 for November, $380,000 for December, and $370,000 for January.Collections are expected to be 50% in the month of sale, 49% in the month following the sale, and 1% uncollectible.The cost of goods sold is 85% of sales.The company would like to maintain ending merchandise inventories equal to 75% of the next month's cost of goods sold.Payment for merchandise is made in the month following the purchase.Other monthly expenses to be paid in cash are $23,300.Monthly depreciation is $21,200.

Reference no: EM13567662

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