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Home Q & A Board Other Fields Homework Help Business Accounting
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bernie2981 bernie2981
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8 years ago
Fosnight Enterprises prepared the following sales budget:

Month   Budgeted Sales
March   $6,000
April   $13,000
May   $12,000
June   $14,000

The expected gross profit rate is 30% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold.

What is the desired ending inventory on May 31?
A) $9,800
B) $1,960
C) $840
D) $1,680
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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nucleinuclei
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8 years ago
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bernie2981 Author
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#2
8 years ago
Answers my question perfectly.
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