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Wilco has Sales Revenue of $1,000,000 and COGS of $700,000 in 2022 along wit an ending balance of inventory of $80,000 and an inventory turnover of 10. Wilco projects sales will grow by 20% in 2023 and that their COGS to Sales Revenue percentage and inventory turnover will remain steady. What is Wilco's projected ending balance of inventory in 2023? O $84,000 O $88,000 O $70,000 $80.000

Wilco has Sales Revenue of $1,000,000 and COGS of $700,000 in 2022 along wit an ending balance of inventory of $80,000 and an inventory turnover of 10. Wilco projects sales will grow by 20% in 2023 and that their COGS to Sales Revenue percentage and inventory turnover will remain steady. What is Wilco's projected ending balance of inventory in 2023? O $84,000 O $88,000 O $70,000 $80.000

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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Wilco has Sales Revenue of $1,000,000 and COGS of $700,000 in 2022 along with an ending balance of inventory of $80,000 and an inventory turnover of 10. Wilco projects sales will grow by 20% in 2023 and that their COGS to Sales Revenue percentage and inventory turnover will remain steady. What is Wilco's projected ending balance of inventory in 2023? O $84,000 O $88,000 O $70,000 $80,000
Transcribed Image Text:Wilco has Sales Revenue of $1,000,000 and COGS of $700,000 in 2022 along with an ending balance of inventory of $80,000 and an inventory turnover of 10. Wilco projects sales will grow by 20% in 2023 and that their COGS to Sales Revenue percentage and inventory turnover will remain steady. What is Wilco's projected ending balance of inventory in 2023? O $84,000 O $88,000 O $70,000 $80,000
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