Calculate the budgeted purchases of inventory in february

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Question - Cornette Company provided the following information relevant to its inventory sales and purchases for December 2007 and the first quarter of 2008: Dec. 2007 (Actual) Cost of Goods Sold= $40,000; Jan. 2008 (Budgeted) Cost of Goods Sold= $70,000; Feb. 2008 (Budgeted) Cost of Goods Sold= $90,000; March 2008 (Budgeted) Cost of Goods Sold= $60,000; Desired ending inventory levels are 25% of the following month's projected cost of goods sold. Calculate the Budgeted purchases of inventory in February 2008?

Reference no: EM132213715

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