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O'Hare Company is in the process of preparing a purchases budget for the first quarter of 2014. The company has budgeted sales as follows: Cost

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O'Hare Company is in the process of preparing a purchases budget for the first quarter of 2014. The company has budgeted sales as follows: Cost of goods sold is expected to be 75% of sales. The company would like to have ending inventory each month equal to 25% of the following month's predicted cost of sales. The total cost of purchases in January is

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