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What is the budgeted ending inventory for may in dollars

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Reference no: EM131792932

Peabody Enterprises prepared the following sales budget:

Month

Budgeted Sales

March

 $5809

April

 $13392

May

 $12272

June

 $14039

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 in dollars not units?

Reference no: EM131792932

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