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What is the company budgeted cost of goods sold

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Problem 1: A merchandising company has computed that its required merchandise purchases are $685,440. The company's beginning inventory is budgeted at $201,600, and its desired ending inventory is budgeted at $215,040. What is the company's budgeted cost of goods sold?

Group of answer choices

Option 1: $1,102,080

Option 2: $672,000

Option 3: $698,880

Option 4: $416,640

Reference no: EM132840615

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