Question
Peabody Enterprises prepared the following sales budget: Month Budgeted Sales March $6,131 April $13,001 May $12,224 June $14,257 The expected gross profit rate is 40%
Peabody Enterprises prepared the following sales budget:
| Month | Budgeted Sales |
| March | $6,131 |
| April | $13,001 |
| May | $12,224 |
| June | $14,257 |
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 in dollars not units?
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The Consolations Of Economics How We Will All Benefit From The New World Order
Authors: Gerard Lyons
1st Edition
0571307795, 9780571307791
