Use the following information for the next 7 questions.
TFS Corporation, a retail company selling hotel furniture, has just completed its master budget for the next fiscal year. Ending inventory is budgeted at 20% of cost of goods available for sale. Selected data from that process appear in the table below:
-TFS' budgeted gross profit for the next fiscal year will be
A) $136,000
B) $106,000
C) $125,000
D) $122,000

Question

Use the following information for the next 7 questions.
TFS Corporation, a retail company selling hotel furniture, has just completed its master budget for the next fiscal year. Ending inventory is budgeted at 20% of cost of goods available for sale. Selected data from that process appear in the table below: 
-TFS' budgeted gross profit for the next fiscal year will be
A) $136,000 
B) $106,000 
C) $125,000 
D) $122,000

Quizplus · Accepted Answer

The Answer of Use the following information for the next 7 questions.
TFS Corporation, a retail company selling hotel furniture, has just completed its master budget for the next fiscal year. Ending inventory is budgeted at 20% of cost of goods available for sale. Selected data from that process appear in the table below: 
-TFS' budgeted gross profit for the next fiscal year will be
A) $136,000 
B) $106,000 
C) $125,000 
D) $122,000

Use the Following Information for the Next 7 Questions