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What is the desired beginning inventory on June

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Reference no: EM133065894

Question - Norton Company prepared the following sales budget:

Month

Budgeted Sales

March

$200,000

April

$180,000

May

$220,000

June

$260,000

The expected gross profit rate is 40% and the inventory at the end of February was $36,000. Desired inventory levels at the end of the month are 30% of the next month's cost of goods sold. What is the desired beginning inventory on June 1?

Reference no: EM133065894

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