Friday
April 18, 2014

Homework Help: Merchandize inventory

Posted by Anonymous on Monday, July 28, 2008 at 10:38pm.

MJ Department Store expects to generate the following sales figures for the next three months:



July

August

September
Expected sales

$476,000

$558,000

$604,000

MJ's gross profit rate is 44% of sales dollars. At the end of each month, MJ wants a merchandise inventory balance equal to 30% of the following month's expected sales, stated at cost. What dollar amount of merchandise inventory should MJ plan to purchase in August?


$316,208

$320,208

$358,208

$333,208

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

accounting - On October 31, a flood at Payne Company’s only warehouse caused ...
business math - Estimate the cost of ending inventory for August for Roman's ...
Finance - 16. Your firm is trying to determine its cash disbursements for the ...
accounting - Les Fleurs, a boutique in Paris, France, had the following accounts...
Fin 324 - Using the following data, compute net sales sales discounts 50,000 ...
managerial accounting - Werntz furniture had actual sales for July and august ...
college - Les Fleurs, a boutique in Paris, France, had the following accounts in...
Math - Les Fleurs, a boutique in Paris, France, had the following accounts in ...
Math - Les Fleurs, a boutique in Paris, France, had the following accounts in ...
Accounting help - I'm trying to make an income statement...for sales revenue out...

Search
Members