Question

A sporting equipment store expects to purchase $8,600 of ski boots in October. The store had $2,400 of ski boots in merchandise inventory at the beginning of October, and expects to have $1,400 of ski boots in merchandise 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 is $9,600

Explanation:

The computation of the budgeted cost of goods sold is shown below:

As we know that

Budgeted cost of goods sold = Beginning inventory + Purchase - Ending Inventory

= $2,400 + $8,600 - $1,400

= $9,600

Hence, the budgeted cost of goods sold is $9,600