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In September 30 of Year 1, JayBob Company had raw materials inventory of 5,000 pounds. Starting in October, JayBob intends to have an inventory policy of maintaining ending raw materials inventory at the end of every month equal to the next ONE month's production needs. For example, ending inventory at the end of October should be equal to forecasted raw materials needs for November production.
Forecasted PRODUCTION for the months October, Year 1 through December, Year 1 is as follows.
October 4,300 units
November 1,000 units
December 700 units
Question 1: What is the amount of budgeted RAW MATERIALS PURCHASES for October?
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