Question
Caplico Company has prepared the following sales budget: Month Budgeted Sales March $400,000 April 207,000 May 241,000 June 248,000 Cost of goods sold is budgeted
Caplico Company has prepared the following sales budget:
Month
Budgeted Sales
March
$400,000
April
207,000
May
241,000
June
248,000
Cost of goods sold is budgeted at 40% of sales, and the inventory at the end of February was $34,000. Desired inventory levels at the end of each month are 10% of the next month's cost of goods sold. What is the desired beginning inventory on June 1?
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International Accounting
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera
5th edition
1259747980, 9781259747984, 1260466531, 978-1260466539
