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What is the amount of purchases for july

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Reference no: EM133187769

Question - Currant Company provided the following information:

 

June

July

August

Sales on account

7,200,000

7,360,000

7,600,000

Cash sales

720,000

800,000

1,040,000

All merchandise is marked up to sell at invoice cost plus 20%. Inventory at the beginning of each month is 30% of that month's cost of goods sold. What is the amount of purchases for July?

Reference no: EM133187769

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