HW Ch 20 solutions

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

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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 )

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beginning inventory. ............... Budgeted
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## 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.

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

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