Question
Caplico Company has prepared the following sales budget: MonthBudgeted Sales March$400,000April$207,000May$241,000June$248,000 Cost of goods sold is budgeted at 40% of sales, and the inventory at
Caplico Company has prepared the following sales budget:
MonthBudgeted SalesMarch$400,000April$207,000May$241,000June$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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Integrated Accounting For Windows
Authors: Dale A. Klooster, Warren Allen
5th Edition
0324312490, 9780324312492
