Multiple Choice
Coomb's Fashions forecasts sales of $125,000 for the quarter ended December 31.Its gross profit rate is 20% of sales,and its September 30 inventory is $32,500.If the December 31 inventory is targeted at $41,500,budgeted purchases for this quarter should be:
A) $134,000.
B) $109,000.
C) $91,500.
D) $25,000.
E) $91,000.
Correct Answer:
Verified
Correct Answer:
Verified
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