Homework Answers
Budgeted purchase = $312,000
Beginning inventory = $40,000
Ending inventory = $180,000
Cost of goods sold = Beginning inventory+Budgeted purchase-Ending inventory
= 40,000+312,000-180,000
= $172,000
Cost of goods sold = 86% of sales
172,000 = Sales x 86%
Sales = 172,000 x 100/86
= $200,000
Correct option is B.
Kindly comment if you need further assistance.
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