Haggle Company Has a Sales Budget for Next Month of $400,000.Cost

question 109

Multiple Choice

Haggle Company has a sales budget for next month of $400,000.Cost of goods sold is expected to be 35% of sales.All units are paid for in the month following purchase.The beginning inventory is $10,000 and an ending inventory of $12,000 is desired.Beginning accounts payable is $76,000.The cost of goods sold for next month is ________.

• A)$140,000
• B)$162,000
• C)$172,000
• D)$220,000