Question
How do I find the beginning inventory for an individual product when the ending inventory of finished goods for the previous period consists of three
How do I find the beginning inventory for an individual product when the ending inventory of finished goods for the previous period consists of three products? Or am I doing this wrong?
(Reference below. Inventory - Finished Goods consists of the sum of three different products including the individual product which I must find the beginning inventory)
(The production budget below is the table for ITEM 1. The value I'm trying to solve is the July beginning inventory amount)
ITEM 2
ITEM 3
Target inventories are consistent for all 3 items (50% of next months sales in units).
Cost for each item:
ITEM 1 | $ 279.99 |
ITEM 2 | $ 59.99 |
ITEM 3 | $ 39.99 |
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