Question

tches tions SportSupplies Corporation has budgeted purchases of inventory for December of $128,900. Expected beginning inventory on December 1 and ending inventory on December 31 are $70,000 and $100,000, respectively. If cost of goods sold averages 86% of sales, what are budgeted sales for December? Enterpris O A $347,558 comma OB. $184 767 June $ 1 OC. $85,054 Solution: OD. $115,000 See solu Q: Cash dis schedule LOADIN A: See solu Q: Maris Br May, and in its pre A: See solu Q: to) Cash schedule Click to select your answer. LOADIN A: Feb e Q Search or enter address esc

Answer 1

Cost of goods sold
Opening Balance			$           70,000
Add: Purchases			$       1,28,900
Less:
Closing Balance			$       1,00,000
Cost of goods sold			$           98,900
Sales = $98900/86% =			$       1,15,000
Correct Option: D