Question
Smoothie Vibes prepared the following sales budget: Month March April May June Budgeted Sales $7,000 $15,000 $11,000 $14,000 The expected gross profit rate is
Smoothie Vibes prepared the following sales budget: Month March April May June Budgeted Sales $7,000 $15,000 $11,000 $14,000 The expected gross profit rate is 20% and the inventory at the end of February was $15,000. Desired inventory levels at the end of the month are 30% of the next month's cost of goods sold. What is the desired ending inventory on May 31? A. $840 O B. $3,360 OC. $11,200 D. $2,640
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Management Accounting
Authors: Will Seal, Carsten Rohde, Ray Garrison, Eric Noreen
6th Edition
0077185536, 978-0077185534
