Bw department store expects to generate the following sales for the next three months: july august september expected sales $490,000 $540,000 $580,000 bw's cost of goods sold is 60% of sales dollars. at the end of each month, bw wants a merchandise inventory balance equal to 25% of the following month's expected cost of goods sold. what dollar amount of merchandise inventory should bw plan to purchase in august? a) $330,000 b) $327,800 c) $314,600 d) $352,800

Christopher kim, cfa, is a banker with batts brothers, an investment banking firm. kim follows the energy industry and has frequent contact with industry executives. kim is contacted by the ceo of a large oil and gas corporation who wants batts brothers to underwrite a secondary offering of the company's stock. the ceo offers kim the opportunity to fly on his private jet to his ranch in texas for an exotic game hunting expedition if kim's firm can complete the underwriting within 90 days. according to cfa institute standards of conduct, kim: a) may accept the offer as long as he discloses the offer to batts brothers.b) may not accept the offer because it is considered lavish entertainment.c) must obtain written consent from batts brothers before accepting the offer.