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Accounting

The McGraw Company has the following information available:

Month Budgeted Sales

June $68,000

July 72,000

August 74,000

September 76,000

October 78,000

The cost of goods sold rate is 65% and the desired ending inventory level is 25% of the next month's cost of sales.

Required:

Prepare a purchases and cost of goods sold budget for July, August and September.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9799910

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