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  • 1.  CMA Pop Quiz - Q167

    Posted 02-17-2017 11:38 AM
    0NVzCz9NTCOb4TzWIBuK_Q167--question.jpg
    Are you preparing for the CMA exam? Take our CMA Pop Quiz!


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    Morgan Greenleaf
    Social Media & Marketing Product Specialist
    IMA
    Montvale NJ
    United States
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  • 2.  RE: CMA Pop Quiz - Q167

    Posted 02-17-2017 03:11 PM

    364,500

     

    A

    B

    C

    D

    E

    F

    F

    G

     

     

    (15% of Mat)

    Mat for Cur Mth Sales (85%x60%)

    +D+C

    Curr Mth's Sales

    Next Mth's Sales

    (60% of Sales)

     

    Inv Beg Bal

    Req End Bal

    Purchases

    Next Mth Sold Mat

    May

    ?

            63,000

     ?

     

    ?

            700,000

                     420,000

    June

            63,000

            54,000

                   357,000

              411,000

              700,000

            600,000

                     360,000

    July

            54,000

            58,500

                   306,000

              364,500

              600,000

            650,000

                     390,000

    August

            58,500

            72,000

                   331,500

              403,500

              650,000

            800,000

                     480,000

     

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    Original Message


  • 3.  RE: CMA Pop Quiz - Q167

    Posted 02-18-2017 11:05 AM

    The ‘pen and ink way’

    You need the inventory used for June thru Aug at 60% of the sales = 420, 360 and 390 plus the closing inventory for June and July 15 % of 360 and 390. Then do the summation filling in the purchase values by calculation and double check + and -

    Opening Inventory (a given)                              63K

    Relief in June                                                   (420)

    Purchases                                                      411 (9k less than purchases as inventory reduced in month by 9K)

    Closing inventory                                              54K (15% of 360)

    Relief in July                                                       (360)

    Purchases for July                                           364.5 (Inventory increases by 4.5 more than relief)

    Closing inventory                                              58.5 (15% of 390)

     



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    Clifford Moggs CMA
    Other
    Reading
    United Kingdom
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    Original Message