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Wallace Company Provides the Following Data for Next Year

Question 188

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Wallace Company provides the following data for next year:
Wallace Company provides the following data for next year: The gross profit rate is 30% of sales. Inventory at the end of December is $30,600 and target ending inventory levels are 10% of next month's sales, stated at cost. What is the amount of purchases budgeted for February? A) $36,180 B) $77,700 C) $79,310 D) $97,580
The gross profit rate is 30% of sales. Inventory at the end of December is $30,600 and target ending inventory levels are 10% of next month's sales, stated at cost.
What is the amount of purchases budgeted for February?


A) $36,180
B) $77,700
C) $79,310
D) $97,580

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