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Question - Brooks Company expects to sell 8,500 units for $ 175 each for a total of $1,487,500 in January and 2,500 units for $ 200 each for a total of $500,000 in February. The company expects cost of goods sold to average 70% of sales revenue, and the company expects to sell 4,700 units in March for $ 280 each. Brooks's target ending inventory is $20,000 plus 50% of the next month's cost of goods sold. Prepare Brooks's inventory, purchases, and cost of goods sold budget for January and February.
What will a close out sale at year end from one of a company's main suppliers do to the company's balance sheet?What will the event noted above do to inventory and payable ratios in comparison to prior years? Is this a concern? To who?
KMAR Company manufactures and sells mountain bikes. It normally operates eight hours a day, six days a week.
Purchased $1,529 of dental supplies. On January 31, determined that $470 of supplies were on hand. Prepare the adjusting entries on January
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The Otter Creek Winery produces three kinds of table wine-a blush, a white, and a red. The win- ery has 30,000 pounds of grapes available to produce wine this season. A cask of blush requires 360 pounds of grapes, a cask of white requires 375 poun..
Duval Co. issues four-year bonds with a $110,000 par value on January 1, 2017, at a price of $105,895. Prepare an amortization table for bonds
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