Question
Peabody Enterprises prepared the following sales budget: Month Budgeted Sales March $6010 April $13120 May $12075 June $14018 The expected gross profit rate is 40%
Peabody Enterprises prepared the following sales budget:
| Month | Budgeted Sales |
| March | $6010 |
| April | $13120 |
| May | $12075 |
| June | $14018 |
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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Authors: Awesome Auditor
1st Edition
1659112699, 978-1659112696
