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Calculate the purchases needed to support january sales

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Reference no: EM131819901

The following are budgeted data for the WU Corporation, a merchandising company:

Budgeted Sales (at retail)
January $300,000
February $340,000
March $400,000
April $350,000
Cost of goods sold as a percentage of sales 60%
Desired ending inventory 75% of next month sales

Assuming that the WU Corporation had inventory on hand of $70,000 (at cost) on January 1, calculate the purchases needed to support January sales.

Reference no: EM131819901

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