Question
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,
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 ending inventory in fiscal year 2007 rounded to the nearest whole dollar amount. A. $13,000 B. $10,150 C. $9,140.63 D. $8,140.63
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Advanced Accounting
Authors: Gail Fayerman
1st Canadian Edition
9781118774113, 1118774116, 111803791X, 978-1118037911
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