Question

A sporting goods store purchased $10,150 worth of ski boots in October. The store had $4,350 of ski boots in inventory at the beginning of October and expects to have $3,800 of ski boots in inventory at the end of October to cover part of anticipated November sales. What is the budgeted cost of goods sold for October

Answer 1

Answer:

The budgeted cost of goods sold for October is $9,600.

Explanation:

Prepare a Budgeted Costs of Goods Sold for October as follows :

Budget Purchases                         $10,150

Add Budgeted Closing Stock       $3,800

Needed                                         $13,950

Less Budgeted Opening Stock   ($4,350)

Budgeted Cost of Goods Sold     $9,600

Conclusion :

The budgeted cost of goods sold for October is $9,600.