Moore wholesalers is preparing its merchandise purchases, Accounting Basics

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Moore wholesalers is preparing its merchandise purchases

Problem

Moore Wholesalers is preparing its merchandise purchases budget. Budgeted sales are $415,400 for April and $512,600 for May. Cost of goods sold is expected to be 62% of sales. The company's desired ending inventory is 22% of the following month's cost of goods sold. Compute the required purchases for April.

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Accounting Basics: Moore wholesalers is preparing its merchandise purchases

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