I JUST NEED THE PRO FORMA BALANCE SHEET NOW!!!i Complete this question by...

90.2K

Verified Solution

Question

Accounting

I JUST NEED THE PRO FORMA BALANCE SHEET NOW!!!imageimageimageimageimageimageimageimageimageimageimagei image

Complete this question by entering your answers in the tabs below Required A Required B Required CRequired D Required E Required F Required G The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $13,300. Assume that all purchases are made on account. Prepare an inventory purchases budget. October November December Inventory Purchases Budget Budgeted cost of goods sold $ 217,000$ 260,400$312,480 13,300 325,780 62,496 $ 269,080$ 270,816$263,284 lus: Desired ending inventory Inventory needed 52,080 269,080 0 62,496 322,896 52,080 ess: Beginning inventory Required purchases (on account) Required B Required D

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students