A retailer using the basic stock method wants its average monthly stock to equal 20 percent of its average monthly sales. Next year's sales are forecast at $2,400,000 . Planned sales for January are $340,000
What is the January 1 planned inventory value (at retail) using the basic stock method?
a. $380,000
b. $400,000
c. $432,000
d. The answer cannot be determined from the information provided.
a
Business
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