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What are budgeted purchases for February

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Question - Block Company's Cost of Goods Sold is 40% of sales. Forecasted sales for the next four months are January, $45,000, February, $50,000, March, $58,000, and April, $40,000. Block's policy is to have an ending inventory of 15% of the next month's sales needs on hand. What are budgeted purchases for February?

$20,480

$20,780

$21,200

$51,200

Reference no: EM132441635

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