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Budgeted sales of the South Side Sundae Shop for the first quarter of the year...

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Question

Accounting

Budgeted sales of the South Side Sundae Shop for the first quarter of the year are as follows:

January $25,000

February 30,000

March 34,000

The cost of sales averages 40 percent of sales revenue and management desires ending inventories equal to 25 percent of the following months sales revenue.

Assuming the January 1 inventory is $6,250, the January purchases budget is: Select one:

A. $11,250

B. $21,000

C. $15,500

D. $ 8,000

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