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15. Hiking General Store prepared the following sales budget: Month    Budgeted Sales March    $4,000 April    $14,000 May    $12,000 June    $16,000 The expected gross profit rate is 30% and the inventory at the end of February was $14,000. Desired inventory levels at the end of the month are 10% of the next month's cost of goods sold. What are the total purchases budgeted for April? ⦁    $10,780 ⦁    $9,800 ⦁    $9,660 ⦁    $9,940

15. Hiking General Store prepared the following sales budget: Month    Budgeted Sales March    $4,000 April    $14,000 May    $12,000 June    $16,000 The expected gross profit rate is 30% and the inventory at the end of February was $14,000. Desired inventory levels at the end of the month are 10% of the next month's cost of goods sold. What are the total purchases budgeted for April? ⦁    $10,780 ⦁    $9,800 ⦁    $9,660 ⦁    $9,940

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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15. Hiking General Store prepared the following sales budget:

Month    Budgeted Sales
March    $4,000
April    $14,000
May    $12,000
June    $16,000

The expected gross profit rate is 30% and the inventory at the end of February was $14,000. Desired inventory levels at the end of the month are 10% of the next month's cost of goods sold.

What are the total purchases budgeted for April?
⦁    $10,780
⦁    $9,800
⦁    $9,660
⦁    $9,940

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