EgmatQuantExpert, some problem/typo in the question unless the question means that SOLD may include more than what is procured in THAT year ...
earlier missed out on word SOLD and took it as procured
statement 1 and 2 are not matching if sold items include only those procured in a year...
statement I :- 45 shoes average procured
statement II :- 377 is the least in a month.

It's not typo. Both procured and sold are two different things. He procured to sell those shoes to retail. Additional budget is to procure more since sales were good.

Answer is D
1) budget spent is 45 *12 * 40 > 19000 so sufficient
2) 377 *12 = 4564 min shoes sold so > 4000 hence used more budget

Posted from my mobile device

when I say typo, it means procured in that year is 45*12=540, while the sale is min 377 per month, so >377*12 or >4524
now does 540 procured and 4524 sold match. either procurement and sold within a year do not have any relation or there is a typo in numbers , and ofcourse anyone sitting for gmat would know procure and sell are two different things

Hey Chetan,

Updated the question, to remove any ambiguity.
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Hey everyone,
We will soon post the answer to this question.

Till then, try it one more time and post your analysis.

Regards,
Ashutosh
e-GMAT
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Solution

Given:

• Adam is one among many employees of ABC ltd., who procures shoes at an average cost of $40.
• His yearly procurement budget is $19,000.
• He receives an additional budget of $3,000, if the total number of shoes sold by the company in a year exceeds 4,000 units.

To find:

• Did Adam receive the additional budget amount last year?

Analysing Statement 1
As per the information given in statement 1, Adam was able to procure 45 shoes on an average each month last year and he was given enough budget to procure all those shoes.

• Therefore, the total spending in the year = 45 x 40 x 12 = $21600.

As $21600 is more than $19000, he must have received the additional budget.

Hence, statement 1 is sufficient to answer.

Analysing Statement 2
As per the information given in statement 2, last year, the lowest number of shoes sold by the company in a month was 377.

If we assume 377 to be the minimum for all months, then total number of shoes sold in the year = 377 x 12 = 4524
This is more than 4000, hence, he must have received the additional budget.

Hence, statement 2 is sufficient to answer.

Therefore, the correct answer is option D.

Answer: D


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