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Desired inventory levels at the end of the month are 20 of

Peabody Enterprises prepared the following sales budget: Month Budgeted Sales March $5915 April $13146 May $12124 June $14144 The expected gross profit rate is 40% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the budgeted ending inventory for May?

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Accounting Basics: Desired inventory levels at the end of the month are 20 of

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