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What were budgeted purchases in November

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Reference no: EM132612416

Question - Use the following sales budget for this question.

Month Budgeted Sales

Sept $80,000

Oct $75,000

Nov $110,000

Dec $100,000

The expected gross profit rate is 25% and the inventory at the end of August was $100,000. Desired inventory levels at the end of the month are 12% of the next month's cost of goods sold.

Required - What were budgeted purchases in November?

a. $83,400

b. $119,000

c. $119,900

d. $81,600

Reference no: EM132612416

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