Asporting equipment store expects to purchase $8,700 of ski boots in october. the store had $2,300 of ski boots in merchandise inventory at the beginning of october, and expects to have $1,300 of ski boots in merchandise inventory at the end of october to cover part of anticipated november sales. what is the budgeted cost of goods sold for october?

The expected cost of goods sold for the month of October would be $9700

Explanation:

Formula for taking out cost of goods sold  (October) -

              BEGINNING INVENTORY

                               +

              PURCHASING  MADE

                               +

              ENDING INVENTORY

Available information -  beginning inventory = $2300

                                       purchase = $8700

                                       ending inventory =  $1300

Putting the values in the formula -

= $2300 + $8700 - $1300

= $9700

answer; buying the bill at a discount from the face value to be received at maturity;

answer; ///liability;