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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. $1,440

b. $1,680

c. $1,120

d. $8,400

Accounting Basics, Accounting

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