HOM Enterprises estimated the following sales for the first six months of 2022: Month Estimated Sales Quantity January 50,000 February 45,000 March 47,000 April 42,000 Мay 54,000 June 89,000 The following information was provided: - The selling price per unit is $10. -All sales are on credit. In the month of sale, 65% is collected and the remaining 35% is collected the following month. - The company wants to maintain ending inventory at 15% of the following month's sales. - The ending inventory as of December 31 was 14,000 units. - The accounts receivable balance as of December 31 was $87,000

HOM Enterprises estimated the following sales for the first six months of 2022: Month Estimated Sales Quantity January 50,000 February 45,000 March 47,000 April 42,000 Мay 54,000 June 89,000 The following information was provided: - The selling price per unit is $10. -All sales are on credit. In the month of sale, 65% is collected and the remaining 35% is collected the following month. - The company wants to maintain ending inventory at 15% of the following month's sales. - The ending inventory as of December 31 was 14,000 units. - The accounts receivable balance as of December 31 was $87,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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