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The following information pertains to the January operating budget for ABC Corporation. - Collections for...

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Accounting

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The following information pertains to the January operating budget for ABC Corporation. - Collections for sales are 50% in the month of sale and 50% the next month. - Desired ending inventory is 20\% of next month's cost of goods sold (COGS). - Administrative costs are $19,000 each month. - Gross margin is 20% of sales. - Beginning accounts receivable is $29,000. - Beginning accounts payable is $74,000. (All from inventory purchases.) - Budgeted sales for January $206,000 and February $109,000. - Purchases are paid in full the following month. - Beginning inventory is $14,000. At the end of January, budgeted ending inventory is? $26,160 $19,000 $29,140 $17,440

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