Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to industry….

Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to

industry. Data regarding the store’s operations follow:

• Sales are budgeted at $360,000 for November, $380,000 for December, and

$350,000 for January.

• Collections are expected to be 75% in the month of sale, 20% in the month following

the sale, and 5% uncollectible.

• The cost of goods sold is 65% of sales.

• The company desires an ending merchandise inventory equal to 60% of the cost of

goods sold in the following month.

• Payment for merchandise is made in the month following the purchase.

• Other monthly expenses to be paid in cash are $21,900.

• Monthly depreciation is $20,000.

• Ignore taxes

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