Question
Peabody Enterprises prepared the following sales budget: Month Budgeted Sales March $6038 April $13500 May $12025 June $14171 The expected gross profit rate is 40%
Peabody Enterprises prepared the following sales budget:
| Month | Budgeted Sales |
| March | $6038 |
| April | $13500 |
| May | $12025 |
| June | $14171 |
The expected gross profit rate is 40% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of the next months cost of goods sold.
What is the budgeted ending inventory for May?
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Coffee Plus Math Equal To Audit
Authors: Marina Peters
1st Edition
B08BDSDFR6, 979-8654153418
