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The following information pertains to the January operating budget for Casey Corporation. .$100,000andFebruaryBudgetedsalesforJanuary$200,000 - Collections for sales are 50% in the month of sale and
The following information pertains to the January operating budget for Casey Corporation. .$100,000andFebruaryBudgetedsalesforJanuary$200,000 - Collections for sales are 50% in the month of sale and 50% the next month. Gross margin is 25% of sales. Administrative costs are $19,000 each month. Beginning accounts receivable is $29,000. Beginning inventory is $14,000. purchases.) Purchases are paid in full the following month. Desired ending inventory is 20% of next month's cost of goods sold (COGS). What is the amount of budgeted ending inventory at the end of January
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