FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Rocker Company expects to sell 7,000 units for $180 each for a total of $1,260,000 in January and 1,500 units for $190 each for a total of $285,000 in February. The company expects cost of goods sold to average 60% of sale
revenue, and the company expects to sel 4,300 units in March for $260 each. Rocker's target ending inventory is $15,000 plus 50% of the next month's cost of goods sold Prepare Rocker's inventory, purchases, and cost of
goods sold budget for January and February
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Transcribed Image Text:Rocker Company expects to sell 7,000 units for $180 each for a total of $1,260,000 in January and 1,500 units for $190 each for a total of $285,000 in February. The company expects cost of goods sold to average 60% of sale revenue, and the company expects to sel 4,300 units in March for $260 each. Rocker's target ending inventory is $15,000 plus 50% of the next month's cost of goods sold Prepare Rocker's inventory, purchases, and cost of goods sold budget for January and February
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