Fosnight enterprises prepared the following sales budget, Ask an Expert

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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?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91972833

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