At January 1, 2022, Sheridan Company has beginning inventory of 2000 surfboards. Sheridan estimates it will sell 14000 units during the first quarter of 2022 with a 12% increase in sales each for the following quarters. Sheridan's policy is to maintain an ending finished goods inventory equal to 25% of the next quarter's sales. Each surfboard costs $120 and is sold for $155. What is the budgeted sales revenue for the third quarter of 2022? $17562 $2722048 $2790000 $620000
At January 1, 2022, Sheridan Company has beginning inventory of 2000 surfboards. Sheridan estimates it will sell 14000 units during the first quarter of 2022 with a 12% increase in sales each for the following quarters. Sheridan's policy is to maintain an ending finished goods inventory equal to 25% of the next quarter's sales. Each surfboard costs $120 and is sold for $155. What is the budgeted sales revenue for the third quarter of 2022? $17562 $2722048 $2790000 $620000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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