Find the inventories for the year 2013, using the percent-of-sales method for projecting financial statements.
2012 Sales: $200M
2013 sales growth rate: 10%
Partial Balance sheet for 2012
Cash: $20M
Accounts Receivable: $15M
Inventories: $25M
Total Current Assets: $60M
Net Fixed Assets: $40M
Total Assets: $100M