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At January 1, 2022, Marigold Corp. has beginning inventory of 3500 surfboards. Marigold estimates it will sell 13000 units during the first quarter of 2022 with a 14% increase in sales each for the following quarters. Marigold's policy is to maintain an ending finished goods inventory equal to 25% of the next quarter's sales. Each surfboard costs $100 and is sold for $180. What is the budgeted sales revenue for the third quarter of 2022? ○ $16895 ○ $742500 ○ $3082500 ○ $3041064

At January 1, 2022, Marigold Corp. has beginning inventory of 3500 surfboards. Marigold estimates it will sell 13000 units during the first quarter of 2022 with a 14% increase in sales each for the following quarters. Marigold's policy is to maintain an ending finished goods inventory equal to 25% of the next quarter's sales. Each surfboard costs $100 and is sold for $180. What is the budgeted sales revenue for the third quarter of 2022? ○ $16895 ○ $742500 ○ $3082500 ○ $3041064

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At January 1, 2022, Marigold Corp. has beginning inventory of 3500 surfboards. Marigold estimates it will sell 13000 units during the first quarter of 2022 with a 14% increase in sales each for the following quarters. Marigold's policy is to maintain an ending finished goods inventory equal to 25% of the next quarter's sales. Each surfboard costs $100 and is sold for $180. What is the budgeted sales revenue for the third quarter of 2022? ○ $16895 ○ $742500 ○ $3082500 ○ $3041064
Transcribed Image Text:At January 1, 2022, Marigold Corp. has beginning inventory of 3500 surfboards. Marigold estimates it will sell 13000 units during the first quarter of 2022 with a 14% increase in sales each for the following quarters. Marigold's policy is to maintain an ending finished goods inventory equal to 25% of the next quarter's sales. Each surfboard costs $100 and is sold for $180. What is the budgeted sales revenue for the third quarter of 2022? ○ $16895 ○ $742500 ○ $3082500 ○ $3041064
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