(Answered) Question - horizon audio systems sells and installs car

Accounting

Question - Horizon Audio Systems sells and installs car starter systems.

The company's sales budget for the fourth quarter is provided below:

October November December

Budgeted Sales $90,000 $98,000 $104,000

You can expect the company's cost of goods sold to be 80% of sales.

The ending inventory balance each month should be 20% of the next month's cost of goods sold.

Based on this information, how much inventory do you need to purchase for November?

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