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Upstairs Company has the following data: Month Budgeted Sales January $112,000...

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Question

Accounting

Upstairs Company has the following data:

Month Budgeted Sales

January $112,000

February 125,000

March 132,000

April 120,000

The gross profit rate is 40% of sales and ending inventory at December 31 was $26,325. Desired ending inventory levels are 25% of next month's sales at cost. What are the expected total purchases for March?

A) $77,400

B) $86,480

C) $100,750

D) $105,575

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