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Peabody Enterprises prepared the following sales budget: Month Budgeted Sales March $6130 April $13122 May $12177 June $14010 The expected gross profit rate is 40%
Peabody Enterprises prepared the following sales budget:
| Month | Budgeted Sales |
| March | $6130 |
| April | $13122 |
| May | $12177 |
| June | $14010 |
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 month
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