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ACCT 346 Week 6 Assignment Latest

Week 6

Directions: Your assignment this week is to answer the two questions below. Please note that Question #2 has 2 parts, Part A and Part B. Please show your work for full credit and use the box provided. Please add more rows or columns to the box if needed.
1.1.Cave Hardware’s forecasted sales for April, May, June, and July are $200,000, $230,000, $190,000, and $240,000, respectively.Sales are 65% cash and 35% credit with all accounts receivables collected in the month following the sale.Cost of
goods sold is 75% of sales and ending inventory is maintained at $60,000 plus 10% of the following month’s cost of goods sold.