Yoshino, Inc., a merchandising company, has the following budgeted figures: JanFebMarAprilSales$51,900$69,000$80,000$91,000Cost of goods sold50% of sales Required ending inventory$15,000 + 20% of next month's sales Inventory on hand on Jan 1$27,000 Calculate the ending merchandise inventory for the month of March. A.$33,200 B.$55,000 C.$40,000 D.$27,750

Given: Required Ending Inventory = $15,000 + 20% of next month's sales

Answered: Yoshino, Inc., a merchandising…

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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Yoshino, Inc., a merchandising company, has the following budgeted figures:

	Jan	Feb	Mar	April
Sales	$51,900	$69,000	$80,000	$91,000
Cost of goods sold	50% of sales
Required ending inventory	$15,000 + 20% of next month's sales
Inventory on hand on Jan 1	$27,000

Calculate the ending merchandise inventory for the month of March.

$33,200

$55,000

$40,000

$27,750

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