April's cost of goods sold is $32,000. The amount of Merchandise Inventory to be shown on the budgeted balance sheet at March 31 would be ________.
Teleco Corp. is preparing its budget for the first quarter of 2018. The following data is provided:
A) $10,625
B) $11,750
C) $34,000
D) $13,000
D) $13,000
Cost of goods sold = (32,000 × 25%) + 5000 = $13,000
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