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Assume a merchandising company's estimated sales for January, February, and March are $118,000,$138,000, and $128,000, respectively. Its cost of goods sold is always 35% of
Assume a merchandising company's estimated sales for January, February, and March are $118,000,$138,000, and $128,000, respectively. Its cost of goods sold is always 35% of its sales. The company always maintains ending merchandise inventory equal to 20% of next month's cost of goods sold. What are the required merchandise purchases for January? Multiple Choice $48,300 $42,700 $49,340 $39900
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