Business
Business, 19.11.2019 00:31, royalvogue3562

Franklin had a beginning inventory balance of $3,400 on april 1 and a beginning balance in accounts payable of $15,100. the company desires to maintain an ending inventory balance equal to 10 percent of the next period’s cost of goods sold. franklin makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. prepare an inventory purchases budget for april, may, and june.

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