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QUESTION 8 Sales of $ 550 000 are forecast for the third quarter. Gross profit is 40 per cent of sales, and beginning inventory is

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QUESTION 8 Sales of $ 550 000 are forecast for the third quarter. Gross profit is 40 per cent of sales, and beginning inventory is 5 165 000. If ending inventory is budgeted as $ 215 000, what are the budgeted purchases? $ 270 000 $ 165 000 $ 380 000 $ 330 000

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