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The expected gross profit rate is 40 and the inventory at

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Reference no: EM13589560

Peabody Enterprises prepared the following sales budget:

Month

Budgeted Sales

March

$6130

April

$13122

May

$12177

June

$14010

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 budgeted ending inventory for May?

Reference no: EM13589560

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