Kennel company reported the following: cost of goods sold (estimated for next period) $300,000 ending inventory (estimated for next period) $95,000 beginning inventory for the period $60,000 based on this information, the purchases for the next period should be:

a. $265,000.
b. $360,000.
c. $395,000.
d. $335,000.

option d

Explanation: In simple words, purchases refers to the amount of resources taken in by the organisation in return for paying money or incurring a liability to pay in future.

It can be computed using following formula :-

Purchases = cost of goods sold - opening stock + closing stock'

Putting the values into equation we get :-

Purchases = $300,000 - $60,000 + $95,000

                  = $335,000

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