Purchases BudgetTiger Drug Store carries a variety of health and beauty aids, including 500-count bottles of vitamins. The sales budget for vitamins for the first six months of the year is presented below.Unit SalesDollar SalesJanuary130$1,040February120960March1401,120April1501,200May1701,360June1601,280The owner of Tiger Drug believes that ending inventories should be sufficient to cover 10 percent of the next month's projected sales. On January 1, 25 bottles of vitamins were in inventory.Required:1. Prepare a merchandise purchases budget in bottles of vitamins for as many months as you can.Tiger Drug StoreMerchandise Purchases BudgetJanuary February MarchAprilMay✓140Unit salesDesired EI130 ✓13 X120 V12 X✓14 X15 X17 XTotal needed143 X132 X154 X165 X187 X1.25 XLess: BIXXXXXXUnit purchasesXXX2. If vitamins are priced at cost plus 60 percent, what is the dollar cost of purchases for each month of your purchases budget?JanuaryXFebruaryXMarchXAprilXMayX150170

Purchase budget is the budget prepared at the beginning of the period that shows the inventory…

Answered: Tiger Drug Store carries a variety of…

Tiger Drug Store carries a variety of health and beauty aids, includi Unit Sales Dollar Sales January 130 $1,040 February 120 960 March 140 1,120 April 150 1,200 May 170 1,360 June 160 1,280

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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