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Prepare and present the purchase budget for the month of may

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Question

Lopez Jones Company has the following information available:

Month

Budgeted Sales

March

$150,000

April

$153,000

May

$151,000

June

$254,500

July

$252,500

The gross profit rate is 40% and the desired ending inventory level is 20% of the months cost of sales

Required:

Prepare and present the purchase budget for the month of May?

Reference no: EM132315378

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