Answered

IDNLearn.com connects you with a community of experts ready to answer your questions. Find the answers you need quickly and accurately with help from our knowledgeable and dedicated community members.

The Michael Miller Corporation has a sales budget for next month of $200,000. Cost of goods sold is expected to be $125,000. All goods are paid for in the month following their purchase. The beginning inventory of merchandise is $8,000, and an ending inventory of $6,000 is desired. Beginning accounts payable is $26,000. How much merchandise inventory will The Michael Miller Corporation need to purchase next month

Sagot :

Answer:

the  inventory to be purchased next month is $123,000

Explanation:

The computation of the inventory to be purchased next month is shown below:

= Cost of goods sold + closing inventory - opening inventory

= $125,000 + $6,000 - $8,000

= $123,000

hence, the  inventory to be purchased next month is $123,000

We simply applied the above formula so that the purchase value of the inventory could come  

We value your presence here. Keep sharing knowledge and helping others find the answers they need. This community is the perfect place to learn together. Your questions deserve precise answers. Thank you for visiting IDNLearn.com, and see you again soon for more helpful information.