Tammy's Turtles buys and sells pet turtles. The average purchase price is $10 per turtle...
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Tammy's Turtles buys and sells pet turtles. The average purchase price is $10 per turtle and the average sales price is $21.73 per turtle. Tammy prefers to maintain an inventory level of 32% of next month's expected sales. 37% of Tammy's customers buy on credit. Of these, VA pay within the month of purchase and 3/4 pay the following month. Tammy buys all turtles on credit and pays for 30% the same month and 70% the following month. At the end of February, Tammy had 200 turtles in inventory. During March, April, and May, Tammy expects to sell 600, 700, and 800 turtles, respectively. Produce a sales budget for April (including cash collections). All $ amounts should be rounded to the nearest dollar (except prices). Only provide the requested line items. Sales revenue: Answer: Cash from this month's sales: Answer: Cash from last month's sales: Answer: Produce a purchases budget for April (including cash payments). Only provide the required line items. Desired ending inventory: Answer: Purchases (# units)
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