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bernie2981 bernie2981
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Posts: 3810
6 years ago
Sander Enterprises prepared the following sales budget:

Month   Budgeted Sales
March   $8,000
April   $13,000
May   $12,000
June   $14,000

The expected gross profit rate is 40% 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 beginning inventory on June 1?
A) $1,120
B) $8,400
C) $1,680
D) $1,440
Textbook 

Managerial Accounting


Edition: 4th
Author:
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nucleinuclei
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6 years ago
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