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.   A. ​$33,200   B. ​$55,000   C. ​$40,000   D. ​$27,750

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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.
 
A.
​$33,200
 
B.
​$55,000
 
C.
​$40,000
 
D.
​$27,750
 
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