Flamingo,Inc.has the following budgeted figures: $$\begin{array} { | l | l | l | l | l | }
\hline & \text { Jan } & \text { Feb } & \text { Mar } & \text { April } \
\hline \text { Sales } & \$ 50,200 & \$ 67,000 & \$ 84,000 & \$ 95,000 \
\hline \begin{array} { l }
\text { Cost of goods } \
\text { sold }
\end{array} & \$ 0 \% \text { of sales } & & & \
\hline \begin{array} { l }
\text { Required } \
\text { ending } \
\text { inventory }
\end{array} & \begin{array} { l }
\$ 10,000 + 25 \% \
\text {of next month's } \
\text { sales }
\end{array} & & & \
\hline \begin{array} { l }
\text { Inventory on } \
\text { hand on Jan 1 }
\end{array} & \$ 27,500 & & & \
\hline
\end{array}$$ Calculate cost of goods sold for the month of February.

Question

Flamingo,Inc.has the following budgeted figures: $$\begin{array} { | l | l | l | l | l | } 
\hline & \text { Jan } & \text { Feb } & \text { Mar } & \text { April } \
\hline \text { Sales } & \$ 50,200 & \$ 67,000 & \$ 84,000 & \$ 95,000 \
\hline \begin{array} { l } 
\text { Cost of goods } \
\text { sold }
\end{array} & \$ 0 \% \text { of sales } & & & \
\hline \begin{array} { l } 
\text { Required } \
\text { ending } \
\text { inventory }
\end{array} & \begin{array} { l } 
\$ 10,000 + 25 \% \
\text {of next month's } \
\text { sales }
\end{array} & & & \
\hline \begin{array} { l } 
\text { Inventory on } \
\text { hand on Jan 1 }
\end{array} & \$ 27,500 & & & \
\hline
\end{array}$$ Calculate cost of goods sold for the month of February.

Quizplus · Accepted Answer

The Answer of Flamingo,Inc.has the following budgeted figures: $$\begin{array} { | l | l | l | l | l | } 
\hline & \text { Jan } & \text { Feb } & \text { Mar } & \text { April } \
\hline \text { Sales } & \$ 50,200 & \$ 67,000 & \$ 84,000 & \$ 95,000 \
\hline \begin{array} { l } 
\text { Cost of goods } \
\text { sold }
\end{array} & \$ 0 \% \text { of sales } & & & \
\hline \begin{array} { l } 
\text { Required } \
\text { ending } \
\text { inventory }
\end{array} & \begin{array} { l } 
\$ 10,000 + 25 \% \
\text {of next month's } \
\text { sales }
\end{array} & & & \
\hline \begin{array} { l } 
\text { Inventory on } \
\text { hand on Jan 1 }
\end{array} & \$ 27,500 & & & \
\hline
\end{array}$$ Calculate cost of goods sold for the month of February.

Flamingo,Inc Calculate Cost of Goods Sold for the Month of February