Dakota Layne is opening up "Layne's Women's Fashions" on April 1. Dakota's sales forecast for the Spring/Summer of Year 1 is shown in the top row of the table. She is going to purchase her merchandise 2 months in advance and her cost of goods sold is 70% of sales. Assume that Dakota has a starting inventory of $21,700 at the beginning of June. What is Dakota Layne's Ending Inventory Balance in June?
| Sales and Purchase Forecast |
| | May | June | July | August |
| Sales Forecast | $12,000 | $15,000 | $16,000 | $18,000 |
| Purchases from Suppliers | | | | |
| | | | | |
| Beginning Inventory | | $21,700 | | |
| Plus: Additions | | | | |
| Less: Cost of Goods Sold | | | | |
| Ending Inventory | | | | |
◦ $19,800
◦ $22,000
◦ $22,400
◦ $23,800
◦ $25,300
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