Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. at january 1, 2016, barry, inc. has beginning inve

At January 1, 2016, Barry, Inc. has beginning inventory of 5,000 widgets. Barry estimates it...

60.1K

Verified Solution

Question

Accounting

At January 1, 2016, Barry, Inc. has beginning inventory of 5,000 widgets. Barry estimates it will sell 40,000 units during the first quarter of 2016 with a 5% increase in sales each quarter. Barrys policy is to maintain an ending inventory equal to 10% of the next quarters sales. Each widget costs $2 and is sold for $3. How much is the ending value of the budgeted inventory for the second quarter of 2016? Please show your work. The correct answer is 3,100

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

An equation of an ellipse is given. 2x^2 + 64y^2 = 128 (a) Find the vertices,...

Basic Math
Q

Cards: Suppose you draw two cards with replacement. Round your answers to 3 significant digits*. (a) What is...

Statistics
Q

Explain the impact that changes in sodium (Na), potassium (K), or even myelination will have on...

Biology
Q

in your own words Define ideal partner profile in business and write the importance of Ideal...

General Management
Q

A thread is tied slightly loose to a wire frame as shown in figure The...

Physics
Q

Why do managers worry about the income statement, outside analysts and bankers about the...

Accounting
Q

Journal entries for an account payable denominated in Mexican Pesos ($US weakens) Assume that your...

Accounting
Q

10 Problem: Module 9 Textbook Problem 10 Learning Objective: 9-7 Explain the...

Accounting
Q

Which of the following are characteristics of break-even analysis There is no loss and no...

Accounting
Q

Larry Bett is considering building a budget hotel that offers clean small rooms with bathroom....

Accounting
Q

See the following table regarding a long-term contract for the first year of the contract:...

Accounting
Q

Audit risk is the risk of material misstatement in expression of an audit opinion. Can...

Accounting