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XYZ Co. has forecasted June sales of 800 units and July sales of 1,000 units. The company maintains ending inventory equal to 125% of next

XYZ Co. has forecasted June sales of 800 units and July sales of 1,000 units. The company maintains ending inventory equal to 125% of next month's sales. June beginning inventory reflects this policy. What is June's required production?

Multiple Choice

  • 1,050 units

  • 950 units

  • 1,000 units

  • 1,200 units

A firm has beginning inventory of 270 units at a cost of $7 each. Production during the period was 740 units at $11 each. If sales were 400 units, what is the cost of goods sold (assume FIFO)?

Multiple Choice

  • $3,120

  • $3,520

  • $3,620

  • $3,320

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