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What budgeted purchases for the quarter should be

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Reference no: EM132877503

Problem 1: Coomb's Fashions forecasts sales of $140,000 for the quarter ended December 31. Its gross profit rate is 10% of sales, and its September 30 inventory is $40,000. If the December 31 inventory is targeted at $49,000, budgeted purchases for this quarter should be:

Multiple Choice

Option 1: $117,000.
Option 2: $117,500.
Option 3: $149,000.
Option 4: $14,000.
Option 5: $135,000.

Reference no: EM132877503

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