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Queen desires an ending finished goods inventory to be equal to 10% of the next month's sales needs. July 1 inventory is projected to be 600 units. Each unit requires 7 pounds of Chemical A and 15 pounds of Chemical B. July 1 materials inventory includes 8,526 pounds of Chemical A and 91,350 pounds of Chemical B. Queen desires to maintain a Chemical A inventory equal to 20% of next month's production needs and a Chemical B inventory equal to 100% of next month's production needs.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91061872

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