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How much merchandise inventory will the company need

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Question - Miller Corporation has the following Sales budget. The Cost of Sales is expected to be 70% of the sales. All goods are paid for in the month following their purchase. The desired ending inventory is 30% of next month's cost of sales. Beginning accounts payable is $26,000. (Hint: the beginning inventory of merchandise is for October will be equal to the ending inventory for September which is 30% of October's cost of sales)

Month and Sales

September $15,000

October $16,800

November $18,000

December $22,000

January $24,000

Required - How much merchandise inventory will the company need to purchase in November?

Reference no: EM132973945

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