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Prepare merchandise purchases budget by quarter

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Question - Zeller Company estimates that 2020 sales will be $40,000 in quarter 1, $52,600 in quarter 2, and $58,000 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending finished goods inventory equal to 16% of the next quarter's expected cost of goods sold. Prepare merchandise purchases budget by quarter for the first 6 months of 2020.

Reference no: EM133166171

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