Sebring Company Has the Following Data The Cost of Goods Sold Percentage Is 70% of Sales

question 5

Multiple Choice

Sebring Company has the following data:
$\begin{array}{ll}\text { Month }&\text { Budgeted Sales }\\\text { April } & \$ 40,000 \\\text { May } & 44,000 \\\text { June } & 50,000 \\\text { July } & 52,000 \\\text { August } & 48,000\end{array}$
The cost of goods sold percentage is 70% of sales and the desired ending inventory level is 25% of next month's sales at cost.________ was the beginning inventory on May 1.

• A) $3,300
• B) $7,700
• C) $8,750
• D) $11,000

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Definitions:

Loyalty

A strong feeling of support or allegiance.

In-Groups

Social groups to which an individual feels they belong, often leading to a strong sense of identity and loyalty.

Hostility

Expressions of ill will or aggression towards others, often characterized by antagonistic attitudes or actions.

Social Tie

A connection between individuals or groups that involves some form of interaction or relationship, often used in the study of social networks.