Matthew Company has a sales budget for last month of $400,000. Cost of goods sold...
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Accounting
Matthew Company has a sales budget for last month of $400,000. Cost of goods sold is expected to be 40% of sales. All units are paid for in the month following purchase. The beginning inventory is $5,000 and an ending inventory of $12,000 is desired. Beginning accounts payable is $76,000. The costs of goods solf for the next month is
a) $220,000
b) $160,000
c) $172,000
d) $140,000
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