Silver Corporation Has the Following Information The Cost of Goods Sold Percentage Is 65% and the

Silver Corporation has the following information: $\begin{array}{ll}\text { Month } & \text { Budgeted Sales } \\\text { May } & \$ 46,000 \\\text { June } & 50,000 \\\text { July } & 52,000 \\\text { August } & 48,000\end{array}$ The cost of goods sold percentage is 65% and the desired inventory level is 25% of next month's sales is the desired beginning inventory for August.

A) $4,200
B) $7,800
C) $8,450
D) None of these answers is correct.

Correct Answer:

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