Calico Company has prepared the following sales budget: Cost of goods sold is budgeted at 60% of
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Question:
Calico Company has prepared the following sales budget:
Cost of goods sold is budgeted at 60% of sales and the inventory at the end of February was $36,000. Desired inventory levels at the end of each month are 20% of the next month's cost of goods sold.
What is the desired beginning inventory on June 1?
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