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
1. Calculate the ending merchandise inventory for the month of March.
A) $40,000
B) $33,200
C) $27,750
D) $55,000
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