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D&J Furniture, a retail store, has an average gross profit ratio of 4 8 % . The sales forecast for the next four months follows:
D&J Furniture, a retail store, has an average gross profit ratio of The sales forecast for the next four months follows:
March $
April
May
June
Management's inventory policy is to have ending inventory equal to of the cost of sales for the subsequent month, although it is estimated that the cost of inventory at February will be $
Required:
Calculate the purchases budget, in dollars, for the months of March and April.
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