Flamingo, Inc. has the following budgeted figures:
| Jan | Feb | Mar | April | |
| Sales | $ 54 comma 600$54,600 | $ 60 comma 000$60,000 | $ 83 comma 000$83,000 | $ 97 comma 000$97,000 |
| Cost of goods sold | 5050%
of sales |
|||
| Required ending inventory | $ 20 comma 000$20,000 +2020%
of next month’s sales |
|||
| Inventory on hand on Jan 1 | $ 27 comma 500$27,500 |
Calculate cost of goods sold for the month of February.
A.
$ 12 comma 000$12,000
B.
$ 30 comma 000$30,000
C.
$ 27 comma 300$27,300
D.
$ 31 comma 800$31,800
