Asked by ERICA ROSENBAUM on May 03, 2024
Verified
The estimated finished goods inventory balance at the end of February is closest to:
A) $335,160
B) $245,385
C) $281,295
D) $89,775
Finished Goods
Completed products that are ready for sale but have not yet been sold to customers.
Inventory
The goods and materials held by a company for the purpose of resale or production.
- Evaluate the projected balances of finished goods inventory.
Verified Answer
KF
Karina FernandezMay 09, 2024
Final Answer :
A
Explanation :
The estimated unit product cost is computed as follows: 
The estimated finished goods inventory balance at the end of February is computed as follows: 
*March sales of 13,300 units × 30% = 3,990 units
The estimated finished goods inventory balance at the end of February is computed as follows: *March sales of 13,300 units × 30% = 3,990 units
Learning Objectives
- Evaluate the projected balances of finished goods inventory.