Weldon Industrial Gas Corporation supplies acetylene and other
compressed gases to industry. Data regarding the store's operations
follow:
• Sales are budgeted at $330,000 for November, $350,000 for
December, and $340,000 for January.
• Collections are expected to be 70% in the month of sale, 26%
in the month following the sale, and 4% uncollectible.
• The cost of goods sold is 67% of sales.
• The company desires an ending merchandise inventory equal to
85% of the cost of...