Suppose Bookholders sells 1,000 used textbooks per day at an average price of $30. Assume...
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Accounting
Suppose Bookholders sells 1,000 used textbooks per day at an average price of $30. Assume that Bookholders cost is 75% of the selling price it charges retail customers. They have no beginning inventory, but it wants to have a three day supply of ending inventory. Assume that selling and admin expenses are $1,000 per day. What is Bookholder's Budgeted purchases for the next week (7 days):
A. $300,00
B. $225,000
C. $157,500
D. $75,000
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