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Kent Company's May sales budget calls for sales of $900,000. The store expects to begin May with $50,000 of inventory and to end the month

Kent Company's May sales budget calls for sales of $900,000. The store expects to begin May with $50,000 of inventory and to end the month with $55,000 of inventory. Gross margin is typically 45% of sales. Compute the budgeted cost of merchandise purchases for May.

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