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What is the desired beginning inventory on July

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Reference no: EM132925333

Question - Craftco has prepared the following sales budget:

Month Budgeted Sales

April $200,000

May 180,000

June 220,000

July 260,000

Cost of goods sold is budgeted at 60% of sales and the inventory at the end of March was $36,000. Desired inventory levels at the end of each month are 20% of the next month's cost of goods sold. What is the desired beginning inventory on July 1?

Reference no: EM132925333

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