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pogonyaev
3 years ago
6

Cost of goods sold is budgeted at 40% of sales, and the inventory at the end of February was $34,000. Desired inventory levels a

t the end of each month are 10% of the next month's cost of goods sold. What is the desired beginning inventory on June 1
Business
1 answer:
maksim [4K]3 years ago
5 0

Answer:

$9,920

Explanation:

The computation of the desired beginning inventory as on June 1 is shown below:

Inventory as on June 1 = Given percentage of the cost of goods sold in the month of June

= 10% ×  (40% × $248,000)

= 0.10 × $99,200

= $9,920

As the cost of goods sold is 40% of sales so we considered this thing and according to it we find out the beginning inventory

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