Solved: Jts cost of gods sold is 60 of sales dollars what dollar, Accounting Basics

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Jts cost of gods sold is 60 of sales dollars what dollar

JT Department Store expects

JT Department Store expects to generate the following sales for the next three months:

July August September

Expected sales $460,000 $580,000 $620,000

JT's cost of gods sold is 60% of sales dollars. At the end of each month, JT wants a merchandise inventory balance equal to 20% of the following month's expected cost of goods sold. What dollar amount of merchandise inventory should JT plan to purchase in August?

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Accounting Basics: Jts cost of gods sold is 60 of sales dollars what dollar

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