Seaworthy Company, a merchandising company, has prepared the following sales budget: Month Budgeted Sales March $500,000...
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Seaworthy Company, a merchandising company, has prepared the following sales budget: Month Budgeted Sales March $500,000 April 187,000 May 224,000 June 237,000 Cost of goods sold is budgeted at 50% of sales, and the inventory at the end of February was $34,000. Desired inventory levels at the end of each month are 10% of the next month's cost of goods sold. What is the desired beginning inventory on June 1? A. $11,850 B. $110,500 C. $11,200 D. $23,700 Seaworthy Company, a merchandising company, has prepared the following sales budget: Month Budgeted Sales March $500,000 April 187,000 May 224,000 June 237,000 Cost of goods sold is budgeted at 50% of sales, and the inventory at the end of February was $34,000. Desired inventory levels at the end of each month are 10% of the next month's cost of goods sold. What is the desired beginning inventory on June 1? A. $11,850 B. $110,500 C. $11,200 D. $23,700
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Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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