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How much is budgeted sales revenue for the third quarter

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Problem - At January 1, 2016, Barry, Inc. has beginning inventory of 5,000 widgets. Barry estimates it will sell 40,000 units during the first quarter of 2016 with a 5% increase in sales each quarter. Barry's policy is to maintain an ending inventory equal to 10% of the next quarter's sales. Each widget costs $2 and is sold for $7. How much is budgeted sales revenue for the third quarter of 2016?

Reference no: EM132882445

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