Need finding desired ending inventory!
fosnight enterprises prepared the following sales budg...
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Need finding desired ending inventory!
fosnight enterprises prepared the following sales budget:
month/budget
march/$8000
april/$13,000
may/$12,000
june/$10,000
the expected gross profit rate is 30% and the inventory at the end of the february was $9,000. desired inventory levels at the end of the month are 30% of the next month's cost of goods sold.
what is the desired ending inventory on may 31?
a. $2100
b. $900
c. $2520
d. $7000
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Answers: 1
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