Homework Answers
| Guava Inc., | ||||
| Purchase Budget | ||||
| April | May | June | Quarter | |
| Budgeted cost of goods sold | $35700 | $28000 | $49000 | $112700 |
| Add: Desired ending inventory | 8400 | 14700 | 15120 | 15120 |
| Inventory needed | 44100 | 42700 | 64120 | 127820 |
| Less: Beginning inventory | -10710 | -8400 | -14700 | -10710 |
| Required purchases | $33390 | $34300 | $49420 | $117110 |
Calculation of Cost of goods sold
April= $51000*70%= $35700
May= $40000*70%= $28000
June= $70000*70%= $49000
Calculation of Desired ending inventory
April= $40000*70%*30%= $8400
May= $70000*70%*30%= $14700
June= $72000*70%*30%= $15120
Calculation of Beginning inventory
April= $51000*70%*30%= $10710
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