Caravan Corporation Has the Following Information The Cost of Goods Sold Percentage Is 70% and the

question 56

Multiple Choice

Caravan Corporation has the following information: $\begin{array}{lr}\text { Month } & \text { Budgeted Sales } \\{may } & \$ 46,000 \\\text { June } & 50,000 \\\text { July } & 52,000 \\\text { August } & 48,000\end{array}$ The cost of goods sold percentage is 70% and the desired inventory level is 25% of next month's sales._____ was the beginning inventory for May.

• A)$8,050
• B)$4,025
• C)$12,075
• D)None of these answers is correct

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Definitions:

Ile-Gln

A peptide formed by the amino acids Isoleucine and Glutamine, indicating the presence of a dipeptide bond between them.

Tetrapeptide

A peptide composed of four amino acids linked by peptide bonds.

Ser-Leu-Phe-Pro

A sequence of amino acids, possibly representing a segment of a protein or a peptide.

Trypsin

An enzyme that digests proteins by cleaving peptides at the carboxyl side of lysine and arginine, essential in digestion.