Sales increase Cost of Sales Ending Inventory Needs 44%, 2019 Expected Sales $ B

Question

Sales increase Cost of Sales Ending Inventory Needs 44%, 2019 Expected Sales $ BB1000 Budgeted Sales and Inventory Purchases for 2018 Quarter 1Quarter 2 Quarter 3 Quarter 4 Year 2019 Quarter 1 $ 555,000 777,000 666,000 99000 s 2.997000 Sales in 2017 Expected sales in 2018 Cost of Sales Beginning Inventory Ending Inwentory Purchases Redo this table, putting formulas in all cells that have the xx For this exercise, assume that sales will increase by 21 percent over 2017, Cost of saies equals 44 percent of sales. Ending inventory should equal 55 percent of the amount needed for next quarter sales needs. Expected sales in the first quarter of 2019 will be $888,000. Make sure that all formulas will adjust for changes in the assumptions noted inside the box. When complete, submit your finished excel assignment to me through e-mail. Round all answers to whole numbers (no decimals).

Explanation / Answer

ans)

Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year 2019 Quarter 1

Sales in 2017 (a) 555,000 777,000 666,000 999,000 2,997,000   

Expected sales in 2018(b) 671550 940170 805860 1208790 3626370 888,000

(a) X 121%

Cost of Sales (c) 295482 413675 354578 531868 1595603 390720

(b) X 44%

Beginning inventory 369353 517094 443223 664835 369353

(671550 X 55%) (671550 X 55%)

Ending inventory 517094 443223 664835 488400 488400

(940170 X 55%) (805860 X55%) (1208790 X 55%) (888000 X 55)

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Purchases 443223 339804 354578 355433 1714650

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