Budgeted sales of the Taco El Loco for the first quarter of the year are as follows: January $60,000 February $70,000 March $86,000 The cost of sales averages 30 percent of sales revenue and management desires ending inventories equal to 20 percent of the following month’s cost of sales. Assuming the January 1 inventory is $7,000, the January purchases budget is:
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Budgeted sales of the Taco El Loco for the first quarter of the year are as follows: January $60,000...
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