Question
Serene Corporation had 25,000 units of brake calipers on hand at the end of 2015. The company's inventory policy was to maintain an ending inventory
Serene Corporation had 25,000 units of brake calipers on hand at the end of 2015. The company's inventory policy was to maintain an ending inventory equal to 20% of the current year's sales. During 2016, Serene sold 290,000 units of calipers. How many units did Serene purchase in 2016?
323,000.
290,000.
270,800.
267,500.
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Advanced Accounting
Authors: Debra JeterJames Reeve, Jonathan Duchac, Horace Brock, Paul Chaney
4th Edition
0470506989, 978-0470506981
