Question
Month Budgeted Sales March $6,000 April $13,000 May $12,000 June $14,000 The expected gross profit rate is30% and the inventory at the end of February
| Month | Budgeted Sales |
| March | $6,000 |
| April | $13,000 |
| May | $12,000 |
| June | $14,000 |
The expected gross profit rate is30% and the inventory at the end of February was$10,000. Desired inventory levels at the end of the month are20% of the nextmonth's cost of goods sold.
What is the desired beginning inventory on June1?
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Essentials Of Accounting
Authors: Leslie Breitner, Robert Anthony
11th Edition
0132744376, 978-0132744379
