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ABC, Inc. had sales revenue of $50,000 and $57,000 in fiscal years 2005 and 2006, respectively. Cost of goods sold was $32,000 and $39,000, respectively.
ABC, Inc. had sales revenue of $50,000 and $57,000 in fiscal years 2005 and 2006, respectively. Cost of goods sold was $32,000 and $39,000, respectively. The ending inventory was $7,000 and $8,000, respectively. ABC's revenue growth rate, gross profit margin growth rate and inventory turnover in 2007, will be identical to 2006. Calculate the projected average inventory in fiscal year 2007
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