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Skymont Company wants an ending inventory each month equal to 30% of that month's cost of goods sold. Cost of goods sold for February is

Skymont Company wants an ending inventory each month equal to 30% of that month's cost of goods sold. Cost of goods sold for February is projected at $89,000. Ending inventory at the end of January was $30,000. Based on this information, purchases for February would be: Multiple Choice $97,640. $85,700. $67,640. $59,000

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