This Question: 1 pt 33 of 100 (57 complete) . . The following information pertains...
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Accounting
This Question: 1 pt 33 of 100 (57 complete) . . The following information pertains to the January operating budget for Casey Corporation. Budgeted sales for January $206,000 and February $105,000 Collections for sales are 60% in the month of sale and 40% the next month. . Gross margin is 25% of sales. Administrative costs are $16,000 each month. Beginning accounts receivable is $23,000. Beginning inventory is $20,000 Beginning accounts payable is $71,000. (All from inventory purchases.) Purchases are paid in full the following month. Desired ending inventory is 25% of next month's cost of goods sold (COGS). For January, budgeted cost of goods sold is O A. $154,500 B. $122,700 C. $134,500 OD. $206,000
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