Gates company purchases toy musical instruments

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Reference no: EM13919313

The Gates Company purchases toy musical instruments from a supplier for $15 each and then sells them to its customers for $25 each. The company fore casted unit sales of

February 100

March 200

April 150

Ending inventory for January was 20 units and the company wants budgeted ending inventory to be 20% of the following month's fore casted sales after that. What dollar amount would the company report for ending inventory its budgeted balance sheet for March?

Reference no: EM13919313

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