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Prepare a Merchandise Budget for Nov and Dec.
November December January Total
Budget sales 360,000 330,000 320,000 Add: Desired ending inventory 82,500 Total need 442,500 Less: Beginning merchandise inventory Required purchases COGS 75% 40% purchased in the month prior to the month of sale 60% purchased in the month of sale Accts Rec beg bal 77000 Accts PAy beg 271000 |
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