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Find What is the desired ending inventory on May

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Reference no: EM132806303

Smoothie Vibes prepared the following sales budget:

Month Budgeted Sales

March   $7,000

April  $15,000

May    $10,000

June  $19,000

Problem 1: The expected gross profit rate is 10% and the inventory at the end of February was $8,000. Desired inventory levels at the end of the month are 30% of the next month's cost of goods sold. What is the desired ending inventory on May 31?

Reference no: EM132806303

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