Question - The Bridges Company purchases toy musical instruments from a supplier for $15 each and then sells them to its customers for $25 each. The company forecasted unit sales of
February 100
March 200
April 150
Ending inventory for January was 20 units and the company wants budgeted ending inventory to be 20% of the following month's forecasted sales after that. What dollar amount would the company report for cost of goods sold in its budgeted income statement for March?