Dynamic Answer changes with each attempt consider an Excel solution
San Luis Mill and Lumber sells lumber and general building supplies to building contractors in a mediumsized town in California. Data regarding the store's operations follow:
Sales are budgeted at $ for November, $ for December, and $ for January.
Collections are expected to be in the month of sale and in the month following the sale.
The cost of goods sold is of sales.
The company desires to have an ending merchandise inventory equal to of the following month's cost of goods sold. Payment for merchandise is made in the month following the
purchase.
Other monthly expenses to be paid in cash are $
Monthly depreciation is $
Ignore taxes.
The net income for December would be:
Hint: Range is $ to $
