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Rocker Company expects to sell 4,500 units for $150 each for a total of $675,000...

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Rocker Company expects to sell 4,500 units for $150 each for a total of $675,000 in January and 5,000 units for $220 each for a total of $1,100,000 in February. The company expects cost o goods sold to average 50% of sales revenue, and he comp an expects to sell 4 700 unit in March or $300 each Rocke 'sta e ending inventory is $16,000 plus 50% of the next month's cost of goods sold. Prepare Rockers inventory, purchases, and cost of goods sold budget for January and February. Rocker Company Inventory, Purchases, and Cost of Goods Sold Budget Two months Ended January 31 and February 28 January February 337,500$ 550,000 Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases 291,000 368,500

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