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Based on the following, what is this company's desired BEGINNING inventory for June 1. You must show work for credit. Month Budgeted Sales April $300,000
Based on the following, what is this company's desired BEGINNING inventory for June 1. You must show work for credit.
| Month | Budgeted Sales | |||
| April | $300,000 | |||
| May | $350,000 | |||
| June | $370,000 | |||
| Cost of Goods Sold as a percentage of current | 55% | |||
| month's sales | ||||
| Desired Ending Inventory as a percentage of | 15% | |||
| NEXT month's Cost of Goods Sold | ||||
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Auditing and Assurance Services An Applied Approach
Authors: Iris Stuart
1st edition
73404004, 978-0073404004
