HW Ch 20 solutions

HW Ch 20 solutions - Problem 20-1A (60 minutes) Part 1...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Problem 20-1A (60 minutes) Part 1 HERRON SUPPLY Merchandise Purchases Budgets (in units) For March, April, and May March April May F OOTWEAR Budgeted sales for next month. .... 26,500 31,500 35,000 Ratio of ending inventory to future sales. ......... 29% 29% 29% Budgeted ending inventory. ............. 7,685 9,135 10,150 Add budgeted sales. .................... 15,000 26,500 31,500 Required units of available merchandise. ....... 22,685 35,635 41,650 Less actual (or budgeted) beginning inventory. . (18,500 ) (7,685) (9,135 ) Budgeted purchases. ........... 4,185 27,950 32,515 S PORTS EQUIPMENT Budgeted sales for next month. .... 89,000 96,000 89,500 Ratio of ending inventory to future sales. ......... 29% 29% 29% Budgeted ending inventory. ............. 25,810 27,840 25,955 Add budgeted sales. .................... 70,500 89,000 96,000 Required units of available merchandise. ....... 96,310 116,840 121,955 Less actual (or budgeted) (80,000 ) (25,810 ) (27,840 )
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
beginning inventory. ............... Budgeted
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/01/2011 for the course ACCT 203 taught by Professor Hylton during the Summer '08 term at George Mason.

Page1 / 3

HW Ch 20 solutions - Problem 20-1A (60 minutes) Part 1...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online