Flamingo, Inc

Subject:AccountingPrice:2.87 Bought7

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Flamingo, Inc. has the following budgeted? figures:

	Jan	Feb	Mar	April
Sales	$50,200	$67,000	$84,000	$95,000
Cost of goods sold	60% of sales
Required ending inventory	$10,000 +? 25% of next? month's sales
Inventory on hand on Jan 1	$27,500

Calculate cost of goods sold for the month of February.