Good Morning Sunshine is a wholesaler of coffee makers. In 2012, actual June sales revenue...
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Good Morning Sunshine is a wholesaler of coffee makers. In 2012, actual June sales revenue totaled $200,000. July's sales are expected to increase 10% over June's sales. August's sales are expected to increase 15% over July's sales. Prices are set to achieve a 60% gross profit. The company wants to maintain an ending merchandise inventory equal to 15% of the next months cost of goods sold. This requirement was met on July 1st.
1) What are the companys budgeted purchases for the month of July?
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