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Question 1: If budgeted beginning inventory is $8,300, budgeted ending inventory is $9,400, and budgeted cost of goods sold is $10,260, budgeted purchases should be:
Multiple Choice
Option 1: $860
Option 2: $1,100
Option 3: $1,960
Option 4: $9,160
Option 5: $11,360
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Refer to the information in Problem.
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