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Help Sentra Sporting Company sells tennis rackets and other sporting equipment. The purchasing department manager prepared the inventory purchases budget. Senta's policy is to maintain
Help Sentra Sporting Company sells tennis rackets and other sporting equipment. The purchasing department manager prepared the inventory purchases budget. Senta's policy is to maintain an ending inventory balance equal to 15% of the following month's cost of goods sold. January's budgeted cost of goods sold is $150,000 Budgeted Cost of Goods Sold October November December 140,000 120,000 130,000 Plus: Desired Ending Inventory 38,000 Inventory Needed 178,000 Less: Beginning Inventory 25,000 Required purchases (on Account)153,000 What is the amount of ending inventory that the company will report on its pro forma balance sheet
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