Caplico Company has prepared the following sales budget
Month Budgeted Sales
March $400,000
April 207,000
May 241,000
June 248,000
Cost of goods sold is budgeted at 40% of sales, and the inventory at the end of February was $34,000. Desired inventory levels at the end of each month are 10% of the next month's cost of goods sold. What is the desired beginning inventory on June 1?
A) $24,800
B) $9,640
C) $96,400
D) $9,920
D .D)
Calculation of beginning inventory on June 1:
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