Business, 16.11.2019 03:31 Ackussinglake63

Carter lumber sells lumber and general building supplies to building contractors in a medium-sized town in montana. data regarding the store's operations follow:

o sales are budgeted at $380,000 for november, $390,000 for december, and $400,000 for january.
o collections are expected to be 70% in the month of sale, 27% in the month following the sale, and 3% uncollectible.
o the cost of goods sold is 65% of sales.
o the company desires to have an ending merchandise inventory equal to 80% of the following month's cost of goods sold. payment for merchandise is made in the month following the purchase.
o other monthly expenses to be paid in cash are $22,000.
o monthly depreciation is $20,000.
o ignore taxes.

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