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At January 1, 2020, Mercury, Inc. has beginning inventory of 4,000 hats. Mercury estimates it will sell 35,000 units during the first quarter of 2020
At January 1, 2020, Mercury, Inc. has beginning inventory of 4,000 hats. Mercury estimates it will sell 35,000 units during the first quarter of 2020 with a 10% increase in sales each quarter (not 10% over the first quarter only). Mercury's policy is to maintain an ending inventory equal to 25% of the next quarter's sales. Each hat costs $1 and is sold for $1.50. How much is budgeted sales revenue for the third quarter of 2020? O $57,525 O $63,000 $63,525 $42,350
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