Spruce Corporation has budgeted sales and finished good inventory purchases over the next quarter as...
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Accounting
Spruce Corporation has budgeted sales and finished good inventory purchases over the next quarter as follows: July August September October Sales in Units 40,000 52,000 53,500 ? Purchase units 42,400 52,300 56,650 The company has 8,000 units of the product on hand on July1.
Finished goods inventory ending balance required as a percent of next months sales: 20%
Budgeted sales for October in units would be:
A. 69,250 units B. 53,500 units
C. 56,650 units
D. 52,000 units E. None of the above
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