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Barker Office Supply Store is budgeting for the fiscal year ending March 31, 2020. During the fiscal year ended March 31, 2019, sales totaled $1,200,000
Barker Office Supply Store is budgeting for the fiscal year ending March 31, 2020. During the fiscal year ended March 31, 2019, sales totaled $1,200,000 and cost of goods sold was $660,000. At March 31, 2019, inventory was $200,000. During the upcoming fiscal year, Barker estimates that cost of goods sold will increase by 9% and that ending inventory will be $225,000. How much inventory should Barker purchase during the fiscal year ending March 31, 2020
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