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If a company has a beginning merchandise inventory of 50,000 , a desired ending merchandise inventory of 30,000 , and a budgeted cost of goods sold of 300,000 , what is the amount of required inventory purchases? a.320,000 c.380,000 b. 280,000 d. 300,000

Respuesta :

abhaydwive123

$280,000 is the number of required inventory purchases.

We know that;

Opening stock+purchases-closing stock=Cost of goods sold

50000+purchases-30000=300000

Purchases=300000-50000+30000

=$280,000.

Inventory purchases refer to the purchase of goods for resale to customers. Before recording these purchases on your account, you need to calculate the value of your purchases. This is not an expense when purchasing inventory. Instead, buy assets.

Inventory purchases are recorded in the business account using the inventory object code and sales are recorded in the business account using the appropriate sales object code. Cost transactions are used to transfer the cost of goods used to the company's accounts.

Learn more about inventory purchases at

https://brainly.com/question/24868116

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