Solution-What is the desired beginning inventory on June

What is the desired beginning inventory on June

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Reference no: EM133065894

Question - Norton Company prepared the following sales budget:

Month	Budgeted Sales
March	$200,000
April	$180,000
May	$220,000
June	$260,000

The expected gross profit rate is 40% and the inventory at the end of February was $36,000. Desired inventory levels at the end of the month are 30% of the next month's cost of goods sold. What is the desired beginning inventory on June 1?

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What is the desired beginning inventory on June

Reference no: EM133065894

Reference no: EM133065894

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