Goddard's Department Store has budgeted cost of goods sold of $44,000 for its men's shorts in...
Goddard's Department Store has budgeted cost of goods sold of $44,000 for its men's shorts in March. Management also wants to have $8000 of men's shorts in inventory at the end of March to prepare for the summer season. Beginning inventory of men's shorts for March is expected to be $4600. What dollar amount of men's shorts should be purchased in March?
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$31,400 |
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$56,600 |
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$40,600 |
||
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$47,400 |
Homework Answers
D. $47,400
Purchases = Cost of Goods Sold + Ending inventory - Beginning inventory
Purchases = $44,000 + $8,000 - $4,600
Purchases = $47,400
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